Two weeks ago, we heard Ben Bernanke screaming, “Holy crap! If we don’t vote this $700 billion bailout package into law this very week the entire economy is going to implode and everyone will die!”
Or something like that.
Regardless of his actual words, the message from the Treasury and the Fed and all of the other so-called “experts” was that we needed the bailout package and we needed it right away. So Congress caved and gave them their money.
Now things aren’t looking that great, we’re still sliding inexorably into recession, and it’s clear the bailout really isn’t all it was advertised to be. But never fear– Bernanke is back, except this time he’s saying “Well, hey, it’s going to take some time for stuff to happen.”
So which is it? Quick action? Or wait and see?
I suspect I could do a better job running this economy than the clowns in charge right now. And I’m a physicist.