Central bankers: Out there without a clue [updated]
This video of Federal Reserve chairman Ben Bernanke puts into perspective the recent predictions of of economic recovery made by our own central banker, Alan Bollard. Frankly my dears, for all the reverence they’re given, these guys don’t have a clue.
Bob Murphy calls it “The Best Five-Minute-And-Seven-Second Argument Against Giving [Central Bankers] More Power.” Enjoy.
UPDATE: To be fair, it’s not just central bankers whose crystal balls need work. There’s a Prime Minister not a million miles from here who’s similarly bereft.