Bernanke's interview

Last night's CBS 60 Minutes interview with our Federal Reserve Chairman was just “PR journalism,” superficial at best and a “staged event” that didn't disclose any fact that could give me a reliable sense of what to expect in the coming months. While I'm still waiting for my “magic economic bowl” described yesterday on this blog to start working and show the future outlook, I can't help but think that a combination between real estate and financial recovery partially holds the key to an improved economic outlook. Someone I met last week said, “if there is any kind of turn-around, all of us [not the government] will have to make it happen;” to this, I'd be tempted to add that if we want a full recovery at our egoistical or individual level, it may require that we “steal” that incremental gain from others as the “whole pie” is earmarked for long term stagnation, if not decline. Just a thought for the day, but one I need to expand on...