21 December 2009

Time Magazine's Person of the Year: Bernanke . . . Seriously

Not to be outdone by a Nobel Prize committee that just gave a peace prize to somebody who has done less for peace than Yogi Bear, Time Magazine has given its 2009 Person of the Year award to Ben Bernanke, the current chairman of the Federal Reserve. According to the rag:

He [Bernanke] knows that the economy is awful, that 10% unemployment is much too high, that Wall Street bankers are greedy ingrates, that Main Street still hurts . . . But Bernanke also knows the economy would be much, much worse if the Fed had not taken such extreme measures to stop the panic. There's a vast difference between 10% and 25% unemployment
So, their decision is based on two pillars of indefensible but unchallengeable liberal logic: the rich suck and the economy is bad, but it could be worse (apparently oblivious to the fact that unemployment under Bernarke's watch rose over 3%). It follows the same thought train as "let's saint Ted Bundy, he killed 30+, but at his age he could have killed as many as 50 and didn't."

Many of us believe the economy would have had a faster turnaround if left alone, that it is the extreme measures that heightened the crisis, but that economic philosophy wouldn't work for Obama apologists like Time who are trying everything within their power to justify the events of his destructive presidency.