Too much corn pone personal story, not enough real interview. But I must say, Bernanke is either an astoundingly self contained man or is on the best meds modern science has to offer.
Paul Kedrosky thinks this appearance is either wildly bullish or wildly bearish, and is somewhat inclined to the former view. I see this as enough of a departure from normal Fed rectitude to be Not a Good Sign, but I do have a nose for trouble.
The folks at One Salient Oversight commented on Bernanke’s end of recession call in this broadcast:
Given that in 2005 Bernanke said there was no housing bubble and in 2007 he said that any damage from the housing bubble would be contained, can we therefore trust in Bernanke’s predictions?
I suppose we could use it as a negative indicator and conclude beyond reasonable doubt that the recession WON’T end this year?
The only option I see is for Bernanke to jump or for someone to push him.
Australians do tend to be more bloody-minded about such things than we are. However, just as telling is the fact after each major intervention in the crisis, the Fed (in conjunction with the Treasury) figured it had the crisis licked. There was a lack of additional contingency planning until a new emergency erupted.