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Bernanke: Stupid or evil?

Why we pay him the big bucks:

Economic trouble puzzles Fed chief, too
Fed Chairman Ben Bernanke told reporters Wednesday that the central bank had been caught off guard by recent signs of deterioration in the economy. And he said the troubles could continue into next year.

"We don't have a precise read on why this slower pace of growth is persisting," Bernanke said. He said the weak housing market and problems in the banking system might be "more persistent than we thought."

My vote?

Evil. Permanently high DISemployment is a policy fully supported by all factions in Versailles.

NOTE Lord Eschaton agrees.

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Comments

cal1942's picture
Submitted by cal1942 on

thought process is severely limited.

Expect nothing more from a monetarist.

a little night musing's picture
Submitted by a little night ... on

Your top link leads back to this post.

Cujo359's picture
Submitted by Cujo359 on

I try to never assume evil when stupidity is a viable explanation. In this case, though, it's hard to believe that a real economist could be that stupid.

Submitted by Lex on

i'm given the choice between stupid or evil, i assume that both are correct until evidence proves one or the other.

okanogen's picture
Submitted by okanogen on

Or, more evil than stupid? It's a two-dimensional sliding scale. There is no "off".

Submitted by jawbone on

He's seemingly ignoring all his findings and rather arch advice to the Japanese during their long recession (is that over yet?).

Quite amazing that he can "compartmentalize" so completely. Japan's economic problems are somehow sui generis? Ours, on the other hand, bear no relation to what happened in Japan?

I go with being too much within the Versailles thought bubble. Maybe some regulatory capture gets mixed in....

Submitted by Hugh on

Bernanke is an example of the banality of evil. His job is to string out the con and keep the looting going as long as possible. Being a technocrat does not divorce him from the evil that he does and facilitates. Kleptocracy and class war make 300 million of us victims and about 10 million victimizers. Guess which group, Bernanke belongs to. Bernanke didn't just wander in off the street. He was groomed to be a top man of the kleptocrats with his position at Princeton and then at the Fed. Stupidity is just an excuse because, as with the concept of the banality of evil, we can't reconcile the great evil we see (and experience) with people who look so bland. We expect them to wear black hats and twirl their mustache. Because they don't, we say they must be stupid, or more stupid than evil. The truth is simpler. They are evil.