The Bernank has a blog now.
And he’s using to, well to LIE basically, and to lie so ineptly that any fool who can spell “economics” can see through it.
Here’s what the Bernank actually had the gall, the chutzpah, to say:
.. the relatively rapid decline in unemployment in recent years shows that the critical objective of putting people back to work is being met. …..solid job creation, … … Fed’s aggressive actions are an important reason [behind] job creation in the United States
Solid job creation? Guess the Bernank didn’t see this
Major U.S. Retailers Are Closing More Than 6,000 Stores
I guess those are just some extra jobs that nobody needed. And I guess they’re being closed because all those people who got all those great new jobs the Bernank is talking about just decided to spend their money somewhere else.
As David Stockman points out in an article that is well worth your time to read:
There is no point in mentioning that there are 102 million American adults who are not employed compared to about 75 million before Bernanke joined the Fed; h.. that on a constant labor force participation basis the unemployment rate is still in the double digits;
Blogger Ben’s Basically Full Of It
Bernanke is literally insulting our intelligence. News flash Ben. People now know the difference between employment increasing while the labor force participation rate falls off a cliff, and real employment increases, which have constant labor force participation rates.
They also understand that hardly a dime of all that money you printed even made it’s way to Main Street. It all went to the bankers to speculate with.
And you did everything you could to help them, including instituting interest payments on excess reserves held at the Fed.
Bernanke’s not dumb.
He knows he’s bullshitting us.
Just like he knew he was bullshitting for a job as Fed chairman when he started pumping out a bunch of papers about Keynesian bank rescue garbage for the bankers to read that got him his job as head money printer.
Well it all paid off for the Bernank, big time. He got his job printing money, and now he’s pulling down $250K each doing speeches.
How sweet it is, right Ben?
Thing is, people understand you Ben. They see what you did. When the history books are written, you’re going to have a starring role as one of leads who bought down the US , no, the world financial system.