ThomasKeister.com
  • Home
  • About
    • Bio
    • Sports/eSports
  • Contact/Links

Blowing a lot of smoke at Jackson Hole

8/27/2011

 
Picture
Federal Reserve Chairman Ben Bernanke gave a much-anticipated speech yesterday to a conference of business and industry leaders in Jackson Hole, Wyoming.

That's really where the coverage of this story should end.

For all of the attention paid to this speech, in the final wind-up- Bernanke said nothing. Squat. Jack shit. Announcing no new measures to stimulate the economy, but saying the Fed has tools at its disposal, if necessary, Bernanke instead put the onus on Congress to do more to stimulate hiring and growth.

In other words, the Federal Reserve could do something, but it's perfectly willing to continue passing the buck to our do-less-than-nothing Congress, so Bernanke doesn't have to take much more heat for being a spectacular failure at his job. We all know Congress listens, right, especially since they haven't heard one thing the American public has been screaming about getting them off their collective asses to do something...anything.

For whatever reason, investors took a bright view of Bernanke's latest empty-headed yapping, and the markets finished up for the day and up for the overall week. Yeah, I don't get it either...

Then again, gas prices shot right back up on Thursday, rising gradually across the country, even as Bernanke was touting oil and other commodity prices dropping.

Yes, much ado about nothing. For all the cheap talk government-as-usual gives us, maybe we should start investing heavily in wind energy. If Congress is not going to do a damn thing for the economy, they could at least put that hot air towards lowering some energy costs. That is, unless that's another Bernanke tool he's not gonna use...


Comments are closed.

    DasUberBlog!

    Picture
    Winner, The Blogitzer
    (Best Overall Writing), 2011 Blogger's Choice Awards
    Disclosure Policy

    Archives

    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011
    September 2011
    August 2011
    July 2011
    June 2011
    May 2011
    April 2011
    March 2011
    February 2011
    January 2011
    December 2010
    November 2010

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Home
  • About
    • Bio
    • Sports/eSports
  • Contact/Links