DID HE GET TO RIDE IN THE HELICOPTER?

Bernanke Goes On Self-Promotional Media Blitz!

MISH: Bernanke is mindful of the fact that he has done a horrible job. In an attempt to change perceptions, Bernanke has gone on a media blitz attempting to whitewash the Fed's failures, while seeking still more power for the Fed.

The Fed's media blitz started in March as noted by a Cream Puff Interview With Bernanke On 60 Minutes.

Bernanke stepped up his advertising campaign this weekend in a town hall meeting on public TV. The show will air this week in three installments on PBS' "The NewsHour with Jim Lehrer."

Jim Lehrer invited questions and comments in advance. Here is the question/comment that I submitted.

Hello Ben

Given that you failed miserably to see what was coming, how can giving the Fed more regulatory power possibly fix anything? I have a better idea, let’s get rid of the Fed totally along with its micro-mismanagement of interest rates that repetitively blows bubbles of increasing amplitude. Face the facts Ben, you no more know where interest rates should be than you know where the price of orange juice should be. The housing bubble and subsequent collapse that you failed to see coming is proof enough of your ineptitude. Only the free market knows what the price of money should be at any given time. Regardless, you sure don’t know. How about coming up with a 5 year plan to abolish the Fed?

Mike “Mish” Shedlock