Ben Bernanke is Selling Mermaid Stories Again
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After listening to Fed Chairman Ben Bernanke's testimony before congress today, one thing is clear - Ben Bernanke does not believe that Mermaids exist. While the Fed Chairman didn't state this fact directly to members of Congress today, his negative comments regarding the state of the economy make it pretty clear, right? . . . If this statement seems utterly ridiculous, that is because it is, and so is Fed watching.
Look, if the Fed wants a lesson in governing, they should take a page from National Oceanographic and Atmospheric Agency (NOAA). Here is a government agency that knows how to get to the point. NOAA made a statement this week after receiving several queries following the broadcast of an Animal Planet program called "Mermaids: The Body Found."
The show featured several people searching for what they believed were mermaids. As a result, many viewers were left believing in the possibility of Mermaids. In response NOAA, being the straight talking government agency that it is, did not beat around the bush. Here is a statement from NOAA regarding mermaids. "No evidence of aquatic humanoids has ever been found."
NOAA's straight talk isn't limited to evidence of mermaids. The National Hurricane Center, an agency run by NOAA, often times gives forecasts on the probability of extreme weather. Much like Fed models, the models used by NOAA to predict weather tend to be fairly complicated, but they are still able to make predictions - and if they can do it, why can't the Fed?
Contrasted with Bernanke's Fed-Speak, there is hands-down no comparison. Most would prefer NOAA. And while it may be naïve to think that the Fed will change any time soon, it is equally naïve to think that the Fed can not only successfully manipulate monetary policy, they can also successfully manipulate investors into being positive on the U.S. economy. Why not just give us the facts? Why not just tell us Mermaids do not exit?
Look, if the Fed wants a lesson in governing, they should take a page from National Oceanographic and Atmospheric Agency (NOAA). Here is a government agency that knows how to get to the point. NOAA made a statement this week after receiving several queries following the broadcast of an Animal Planet program called "Mermaids: The Body Found."
The show featured several people searching for what they believed were mermaids. As a result, many viewers were left believing in the possibility of Mermaids. In response NOAA, being the straight talking government agency that it is, did not beat around the bush. Here is a statement from NOAA regarding mermaids. "No evidence of aquatic humanoids has ever been found."
NOAA's straight talk isn't limited to evidence of mermaids. The National Hurricane Center, an agency run by NOAA, often times gives forecasts on the probability of extreme weather. Much like Fed models, the models used by NOAA to predict weather tend to be fairly complicated, but they are still able to make predictions - and if they can do it, why can't the Fed?
Contrasted with Bernanke's Fed-Speak, there is hands-down no comparison. Most would prefer NOAA. And while it may be naïve to think that the Fed will change any time soon, it is equally naïve to think that the Fed can not only successfully manipulate monetary policy, they can also successfully manipulate investors into being positive on the U.S. economy. Why not just give us the facts? Why not just tell us Mermaids do not exit?
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