Bernanke's Big Mistake
After reading this article about how Bernanke is now testifying that the economic future is uncertain, I couldn't help but think "What a total idiot he is."
First and foremost, if traders (assuming they have seen the last three months of crappy economic indicators) are still insisting on pushing up stock prices, why in the world would you shatter their delusional fantasies? Obviously stock prices are based on bluster and fluff - definitely not economic reality, so give it to them. Say something like "No matter what the number say, I see green shoots everywhere!"
I've pretty much lost faith in the stock market if this testimony is hurting stock prices. He's saying NOTHING we didn't already know. If people had a currency based on gold, they could at least save their wealth, today they've got two choices 1) Watch savings disappear in a crappy market or 2) Watch it disappear in the printing press.
Sucks to be a saver in this environment, so spend, spend, spend (assuming you've got it to spend).