Bonus Fed Watch: Stop Talking, Ben, Or We'll Shoot

"What I meant to say was 'the world is flat,' and we're all 'glocalized'...put the gun down!!!!"

Ben Bernanke spoke before the Federal Reserve Bank of Kansas City today, and it sounded for all the world like he grabbed his talking points from Thomas Friedman:

"The natural reaction of those so affected is to resist change, for example, by seeking the passage of protectionist measures," Bernanke said. "The challenge for policymakers is to ensure that the benefits of global economic integration are sufficiently widely shared — for example, by helping displaced workers get the necessary training to take advantage of new opportunities," he said.

Right, because all of those corporations put so much money into retraining and education programs for employees once they fire them. :) I wonder if my inability to understand this crap is due to insufficient transmission of the Moustache of Understanding, or maybe because it's really just crap.

Then again, if I were Ben Bernanke, I'd much rather dazzle the masses with obscure historical trivia than speak plainly about the fact that we could be looking at a major recession at worst, and tepid growth at best.

Posted at August 25, 2006 01:56 PM

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"What I meant to say was 'the world is flat,' and we're all 'glocalized'...put the gun down!!!!" Ben Bernanke spoke before the Federal Reserve Bank of Kansas City today, and it sounded for all the world like he grabbed his talking points from Thomas Friedman: "The natural reaction of those so affected is to resist change, for example, by seeking the passage of protectionist measures," Bernanke said. "The challenge for policymakers is to ensure that the benefits of global economic integration are sufficiently widely shared — for example, by helping displaced workers get the necessary training to take advantage of new opportunities," he said. Right, because all of those corporations put so much money into retraining and education programs for employees once they fire them. :) I wonder if my inability to understand this crap is due to insufficient transmission of the Moustache of Understanding, or maybe because it's really just crap. Then again, if I were Ben Bernanke, I'd much rather dazzle the masses with obscure historical trivia than speak plainly about the fact that we could be looking at a major recession at worst, and tepid growth at best.