I know stutters and this ain’t it. It’s the second item I’ve seen in last two days about Bernanke looking bad on this point — the other was being questioned by a Congressman — and each time he doesn’t.
Heat’s on him and Fed because it’s lending (creating) money and not just setting rates, and rightly so, And bigger q. is what about the Fed in the first place? But that’s a minority view, to be sure.
As for his argument about letting Congress decide monetary matters — rates — if we need a wizard, those bozos can’t be the one, but more to point, that’s not the law, he argues.
Mad Barney Frank at the monetary helm? Hollywood Waxman? God save us.
Bernanke Stutters, Stammers And Shakes His Way Through Questions On Audit The Fed Bill
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Blithe Spirit 
Can’t say about Frank and Waxman…but seeing Bernacke on 60 Minutes and scanning his PHD dissertation on The Great Depression left this fiscal neophyte impressed….but then, this neophyte is firmly convinced there’s not an economist in the world who really knows what the hell they’re talking about… economics is no different than craps at Vegas…the roller hopes, then becomes a hotshot or a humbug all decided by those damn dice!!
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Which is why libertarians or classical liberals know best, especially Hayek and friends: more of the invisible hand and less of the visible.
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