Jackson Hole in Under 200 Words

Ben Bernanke spoke at Jackson Hole today and basically said he can do some stuff later, which he will not tell us about now, but that Congress and the White House should be creating more stimulative policy. A few comments on this. First, BS, you do not have any rabbit hiding in your beard. If you did you would have used it already with an economy that has been sinking and needs help as you also stated in the speech. Second, if by telling us that the September Fed meeting will now be 2 days, you are trying to get us to hold on for Congress or the Fed that may not be a bad ploy. A 3 week experiment with the backdrop that ‘we are on our own’ may give some useful information. Third, I applaud you for finally getting a backbone and not offering to debase the currency, and inflate our way out of this quagmire….for now. I only wish it did not take a return trip to the Teton’s and the backbone of the Continental Divide for you to see the strength of having one.

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