While we’re on the subject, doesn’t DeLong and Summers’s paper throw cold water on the present media narrative of Bernanke as The Hero of the economy? “Unwilling or unable” doesn’t sound particularly heroic to me.
Marc Nunes wonders about The Atlantic’s cover feature on Dr. Bernanke. What does an appearance on a magazine cover captioned “The Hero” really portend?
Bruce Krasting produces his own version of the same magazine cover.
Mike Shedlock isn’t happy with Bernanke’s speech yesterday at all:
Six Things Bernanke is Clueless About
- Bernanke somehow missed the fact that demographics are vastly different today than they were 50 years ago.
- Bernanke somehow missed the fact this a not typical cyclical recession. Instead, it’s a consumer deleveraging and balance sheet recession.
- Bernanke missed student debt problems
- Bernanke missed structural problems of debt deflation
- Bernanke missed disability fraud explanation of falling participation rate
- Bernanke missed middle-age re-schooling reason for falling participation rate