Fascinating, really. Chairman Ben Bernanke has the toughest job in America, maybe even the world. He looked nearly disheveled this afternoon during his testimony. Imagine. The markets, politicians, business leaders, traders, banks, hedge funds, literally everyone except anyone really working for a living was watching this guy. And the politicians make the circus comic.
My favorite: Charles Schumer lecturing; since we’re inept, “Get To Work, Ben!” Republicans and Democrats in another pissing match. Reassuring. The fact that these guys try repeatedly to pull Chairman Bernanke into politics, for their own little egotistical advantage is depressing. He works for them, remember? And they pander, looking for fresh ammo to launch across the isle as if what they’re discussing American Idol.
As diplomatically as possible Ben reiterates again and again that they should get their shit together, take responsability, and they continue to ignore his plea.
American politicians have no room to lecture their European peers.
What’s equally shocking is how the markets react to this circus, falling on large volume, then climbing on weak volume. S&P Futures bouncing off 1340, and taking the VIX down. Take a guess who’s selling and who’s buying?
Ok back to more distractions… I’m not sure which is worse, our political class or popular culture. Actually I am.
Here’s a good list to avoid until 3:30 pm when the smart money comes back from lunch.
- Lady Gaga Causes A Stink With Her Fame Perfume (HufPo)
- Custom Mermaid Tails (TheGloss)
- Flash Teen Mob Takes Over Wall Mart (Florida Times Union)
- Batman villain creator reacts to character’s comparison to Romney – ‘Ridiculous’..’Overgrasping Dems’ (WashingtonTimes)