Ben Bernanke: "I Am So Smart, S-M-R-T"
When Ben Bernanke is out in force writing opinion items for the Washington Post, you know he has been spooked by all the "Audit the FED" talk! Gee Ben, over 10% of America is unemployed and they do not get front page treatment in the Post, maybe you can join the ranks of the jobless and see how the other half lives!
My reaction to Ben's missive was one of awe. I was in awe the man had the gall to basically say the FED knows all and any talk otherwise is dumb. He has guts, I give him that. I was reminded of this classic Simpson's scene:
"I am so Smart, S-M-R-T!"
I could savage Bernanke's article, but Mish and Naked Capitalism have already done such nice jobs I think I will let them run with it.
Ben Bernanke Pleads for His Job; My Response to Bernanke
Bernanke Tries to Defend the FED
Insolvency: It's What's for Dinner
Found a great post over at Sudden Debt that covers a key point:
Insolvency vs, Illiquidity
You should read the whole thing, but the summation sentence is as sharp as they come:
"Dealing with insolvency will require far greater political resolve and much different skills than merely lowering rates and opening credit facilities to all comers."As in no need for another Bernanke term please!
New England Patriots at New Orleans Saints Monday Night Football
Big game this evening, and I am very excited. Economic Disconnect LOVES NFL football and his two most beloved teams are the Patriots and the Saints. How does a born and raised New Englander come to love the Saints? Well, it was not that hard!
I never watched football, except for the Superbowl, until high school. After a long summer of pick up tackle football games I was hooked. I started off watching the NFL my sophomore year in high school and I was mesmerized by the New Orleans defense of that time. The Saints had the "dome patrol" which consisted of maybe the greatest set of 4 linebackers ever to play on the same team:
OLB Ricky Jackson
OLB Pat Swilling
MLB Sam Mills
MLB Vaughan Johnson
The Saints played an aggressive slant of the 46 defense and they were amazing. They became my favorite team at that time and have remained so only recently sharing the top spot with the Patriots.
When Bob Kraft came into New England and turned around a franchise that was a mess for some time, my loyalty was finally won over by the home team. Bill Parcells brought a winning attitude to the Patriots, and when Bill Belichick took over things became amazing fast! That first Super Bowl win against the Rams was just shocking.
So, about tonights game.....
What is funny is this game is not huge in the overall picture of things. The Saints may want to stay ahead of the Vikings for the NFC home field advantage. The Patriots have room to breathe after another Dolphins loss. Still, you know everyone wants to win on Monday night!
Three Reasons the Saints will Win:
1-The Colts opened up the Patriots secondary with their passing game, and the Saints passing attack is even better. Add to this that the Saints can run the football (the Colts cannot) and it is not hard to see some eye popping point totals for New Orleans.
2-The Patriots have had terrible second halfs this year so should the Saints trail, they will know they can come back.
3-The Superdome is going to be deafening for the New England offense to operate effectively.
Three Reasons the Patriots will Win:
1-After dominating the other #1 team in the league 2 weeks ago, the Pats will be very hungry to close out a big game.
2-The Saints defense is going to have issues with both Randy Moss and Wes Welker; inside a dome with fast turf those two are killers.
3-The Saints have been turnover prone and the Patriots will capitalize on mistakes.
The game may not have as many fireworks as some think as I believe both teams will try and run the ball more to slow down the others offense. I think the Saints are for real, I think they are a great team right now, but I think the Patriots may have too much experience at this point and will win 38-35 on a late New Orleans key turnover.
Of course I would not be shocked in the least if the Saints win, they are certainly capable. Tough spot to be in as a big fan of both teams!
Have a good night.