Who cares what Bernanke thinks.

People treat Bernanke’s words as if he’s some sort of oracle. Newsflash! He can’t tell the future. This is just my gut reaction but it seems like he just promises the future will be the same as the now. If things are bad –  “looks like things will be sluggish moving forward”. If things are looking up – “looks as if markets are growing stronger and will be improving into the future”.

I think people are willing to trust what someone tells them is the truth if what they are told is that the current state of affairs will remain the same into the future. Any attempt to convince someone that there there will be a point in the future when things will get considerably worse (or better) tend to be shrugged off and doubted.

Two weeks before the market crashed in 2008, Bernanke was reporting the economy was strong. Why anyone puts any stock in the this man’s predictions is beyond me.

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