Bernanke on Bernanke

The buildup to Ben Bernanke’s remarks today at Jackson Hole has been completely ridiculous, especially since he really didn’t announce anything at this event last year.

In fact, this Kansas City Fed Symposium used to be more like a retreat for Fedheads, a place to relax and have low-keyed discussions.  But now they’ve turned into the Sundance Film Festival, its so commercialized man!  Where are the artists?  When did it go from being about films and art to just deal-making and cash?  And where the hell is Robert Redford?  Taking a nap while they ruin his festival with their dirty Big Studio money?

Oh well, so Jackson Hole has lost its cult status and is no longer about the music.  What are ya gonna do…

But since everyone in the financial media is going nuts already, who am I to take it away from you?  I did a preview and rant of my own the other day, read it here:

Jackson Hole Preview: The Difference is Why

And this morning Jeannine Aversa has a story at Bloomberg looking at the Fed Chairman’s previous writings and research to get a glimpse of what may be next…

“His thinking is informed deeply by his scholarly works,” said economist Matthew Slaughter, associate dean of Dartmouth’s Tuck School of Business in Hanover, New Hampshire, who worked with Bernanke on the economic-advisers council under President George W. Bush. “He’d rather err on the side of doing too much, rather than too little, when dealing with the fallout from a financial crisis.”

“Doing too much” we could live, it’s the doing too much that doesn’t really create any jobs that I have a problem with.  I’m not a central planning kind og guy but at a certain point I’d rather see some sh*t get built already rather than another few hundred billion dollars spent on bond purchases in the electronic matrix.

Anyway, head over for Bernanke’s past remarks and statements may portend…

Source:

Bernanke Scholar Advises Bernanke Fed Chief (Bloomberg)