US Federal Reserve: The Bernanke years … It was a drizzly day in Washington when Ben Bernanke went to his confirmation hearing in November 2005, but all seemed bright for the US economy. Growth was on track to hit 3 per cent. House prices had another five months left to rise. The assembled senators felt indulgent towards the modest academic – variously described by the media as bearded, or sometimes whiskered – seated in front of them. “A superb appointment,” said Richard Shelby, the Republican committee chair. “Tremendously impressive,” agreed Chris Dodd, his Democratic counterpart. – Financial Times
Dominant Social Theme: Ben Bernanke … How will this great, bearded pundit be remembered? The Financial Times asks provocative, reverent, questions.
Free-Market Analysis: It’s always a treat – if one is in the debunking business – to read an article like this in the Financial Times. Pompous, pious, filled with reverence for modern, monetary price fixing, almost every word is a lie and every paragraph offers us identifiable propaganda.The tricks of the trade are the same, whether we are being exposed to a 1,000-page tome about a Western world “leader,” a documentary … or a magazine article in a glossy, upscale tome like The New Yorker.
Read more via The Daily Bell – Cognitive Dissonance of Ben Bernanke?.