Suppose an engineer designed an air plane and had it built. Then he says it is such a good design anyone who flies in it has at least a 50% chance of surviving the flight. Then people from all over the world wait in line for a chance to take a ride. Is that going to happen? No,
When Ben Bernanke talks, people listen. He has never been right yet. Going back to 2006, he has not made one accurate forecast. The answers he gave when being vetted for his job by the senate now sound comical. Quantitative easing was never tested before it was tried but it did exactly what those of us who know what we are talking about said it would do. It elevated stock prices and impoverished the rest of the country.
Still Ben Bernanke is highly thought of and everything he says is taken with high regard. How is this possible? Would baseball fans get excited about a pitcher who had never thrown a strike? I guess not.
Chairman of the Federal Reserve is a person Americans worship. It wouldn’t matter who had the job. Americans don’t look at facts when they worship a person. So, after damaging the country possibly more than anyone in history, he starts making comments and writing books based on his presumed knowledge and experiences as Federal Reserve Chairman. The American public is incredibly stupid. Very few have any knowledge of history. They have no reasoning skills. They struggle with the simplest math problems. Their self esteem is in the stratosphere. When they worship someone, everything that person says or writes is taken as the gospel. Ben Bernanke is not a good economist. Take the time to look at the facts.
Lately he has been saying that during the financial crisis of 2008 certain bankers should have gone to jail. Guess what? He is right about something possibly for the first time. But, he should go to jail with them.