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Bernanke comes clean on Oprah

Posted by Jeff (ILoveCapitalism) at 3:15 pm - February 2, 2013.
Filed under: Debt Crisis,Depression 2.0,Economy
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(Worse than Lance Armstrong.)

UPDATE: Obama getting an intervention:
Obama having an intervention for his spending addiction

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6 Comments

  1. Almost as unfunny as listening to Herr Prof. Dr. Krugman defending…with a straight face…the veracity of the Admin’s low 1.7% inflation numbers.

    Right… Sure… In what (parallel) Universe?
    Food’s up.
    Utilities are up.
    Clothing and leisure are certainly more expensive.
    Local and State Taxes are definitely up.

    Comment by Ted B. (Charging Rhino) — February 2, 2013 @ 5:00 pm - February 2, 2013

  2. Ah, but you see Ted, the iPhone 5 is a little bit better than the iPhone 4, and that more than counteracts the higher food, clothing, power, gas, medical insurance and tax bills for any correct-thinking, six-figure-salaried government employee. /sarc

    Comment by ILoveCapitalism — February 2, 2013 @ 7:41 pm - February 2, 2013

  3. This is a great delight.

    I think it is particularly informative that the “Queen of Heart and Soul” should be the voice in the middle of the minstrel show who questions the end man.

    It would have been even better if, in the end, Oprah had hugged him and given him a fully pimped out Maybach.

    Comment by heliotrope — February 3, 2013 @ 10:07 am - February 3, 2013

  4. ILC – OT but I’d be interested in your take on this: an article on the continuing displacement of workers by automation. It seems like the worldwide labor glut is going to be a growing problem.

    http://www.ft.com/cms/s/0/f6f19228-6bbc-11e2-a17d-00144feab49a.html#axzz2JtPbQnJy

    Comment by SoCalRobert — February 3, 2013 @ 9:23 pm - February 3, 2013

  5. SCR – We’ve talked about this before. Briefly, the elimination of jobs by automation is a problem for society (i.e., widespread longer-term damage) when, and only when, government stands in the way of job creation.

    Left to their own devices, people will naturally create jobs with each other all the time, at some mutually agreeable wage. So the question to ask is, why don’t we have more job creation? Which means: why do we let government interfere so much in the employer-employee private relationship, making job creation so much more expensive a burden than it should be?

    Comment by ILoveCapitalism — February 4, 2013 @ 2:34 pm - February 4, 2013

  6. ILC – Yes, we have.

    Comment by SoCalRobert — February 4, 2013 @ 6:41 pm - February 4, 2013

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