Coach the players need more steroids
Chairman Bernanke is testifying to a joint House and Senate Economic Committee meeting and he just described how to fix the problems currently facing the credit markets.
"We need to give the banks more capital so they can make more loans"
So for you baseball fans it is like this.
Coach, the players performance has been sub-par since we took away the steroids and other performance enhancing drugs: Batting average is down, RBI's are done, stolen bases are down, strikes are down and balls are up. Everything that should be up is down and everything that should be down is up, coach we have to do something!
Coach Bernanke, I will go the league headquarters and lobby for steroids and performance enhancing drugs and while I am at it, I will get the NFL, NBA and NHL to join me.
Well you baseball fans know just like I do that those records and statistics are inflated, bogus, fake: Well an economy on steroids also creates inflated, bogus, and fake statistics. Without the steroids there is nothing to support that excess or enhanced economic activity (GDP); ergo the economy is going to contract (GDP) and there is really nothing the Federal Reserve, Treasury or Congress can do about it.
The proverbial invisible hand is about to wipe away the lies, mis-steps and mis-deeds of the financial services industry and it is going to take a piece of main street with it. SORRY
"We need to give the banks more capital so they can make more loans"
So for you baseball fans it is like this.
Coach, the players performance has been sub-par since we took away the steroids and other performance enhancing drugs: Batting average is down, RBI's are done, stolen bases are down, strikes are down and balls are up. Everything that should be up is down and everything that should be down is up, coach we have to do something!
Coach Bernanke, I will go the league headquarters and lobby for steroids and performance enhancing drugs and while I am at it, I will get the NFL, NBA and NHL to join me.
Well you baseball fans know just like I do that those records and statistics are inflated, bogus, fake: Well an economy on steroids also creates inflated, bogus, and fake statistics. Without the steroids there is nothing to support that excess or enhanced economic activity (GDP); ergo the economy is going to contract (GDP) and there is really nothing the Federal Reserve, Treasury or Congress can do about it.
The proverbial invisible hand is about to wipe away the lies, mis-steps and mis-deeds of the financial services industry and it is going to take a piece of main street with it. SORRY

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