Good God, Bernanke, ...
I'm just shaking my head listening to some of his answers. He's a smart guy and he has many answers, but, he's just reiterating what I would call standard textbook answers. Good safe standard average technical statistical normal-times answers.
That's what is disturbing. The professor is well learned, but, it seems more and more from studying history, things, past events, not from participating. From reading books, reports, studies, data, etc, not from being out there working. From meetings and statements from his staff, not from people out across the country doing it.
He is still behind the curve because he is following the textbook, planning by the textbook, and still reacting somewhat as if he is living in textbook times, and real life is never text book. There are always nuances and unique situations and this period is certainly one of unique events, and textbook responses to questions this morning as well as ongoing textbook responses to markets are not what is needed.
Creativity and vision from someone knowledgable in the real world (what a cliche'!) is what is needed. Some call his operations "creative", but, many have been small measured unsure operations based on textbook, until he gets further behind, and then he has to react.
The market seems to agree once again as the selling picks up during his answers this morning on Capitol Hill.
None of his answers this morning were creative, none would put him ahead of the curve, none would be used to describe him as visionary, they were all standard and safe.
And that is the problem.
