Wednesday, October 04, 2006

Bernanke Speech

Fed Chairman Bernanke's speech today, "The Coming Demographic Transition: Will We Treat Future Generations Fairly?" was essentially ignored by the media, as they hyperventilated over comments about housing during the Q&A that followed.

More importantly, nobody, including Bernanke, seem to be terribly bothered by the central question: "Will We Treat Future Generations Fairly?"

"At the heart of the choices our elected representatives will have to make regarding the distribution of these costs across generations will be an issue of fairness: What responsibility do we, who are alive today, have to future generations? What will constitute ethical and fair treatment of those generations, who are not present today to speak for themselves?"

What in the wide, wide, world of sports is going on here? Our various deficits and unfunded liabilities are so huge, we are now engaging in a narcissistic debate as to whether or not the current generation should even chip in to stop the bleeding.

Are we unable to solve this because the concept is too complicated for voters to understand?

Then think about it this way: why stop with making our grandkids pay our bills? Let's pass a law that the baby boomers get free oil changes. Oh, and we should be able to fly for free. Hey, why stop there? Let's make the future generations wipe our ass too.


Anonymous Anonymous said...

The sky on my planet must be another color. All I heard, over and over, was a demographic crisis was coming at us like a glacial event. Then, the market goes up. State of denial?

9:04 AM  
Blogger FRx said...

So many hedge funds and traders have been caught leaning the wrong way... the worse the news, the higher we go. It can last a while, too.

To be fair, opposite happened in early 2000: corporate profits continued to blow the doors off but the market rolled over (see esp semiconductors).

4:14 PM  
Anonymous DD said...

whatts wrong with this?? seriously??

and im a jew from brooklyn...just shows you the state of the world that we live in...and dont call me a retard...its not very nice...meanie....

10:12 AM  
Anonymous Anonymous said...

oh..its was me you were calling a retard twas some other guy you were speaking of..but the fact that it took me this long to figure it our might make me a retard...furthermore....

and that al-jazeera link is pretty good i must say...i think im will frequent there business section...

should i really be having discussians with myself on your blog...seems...intrusive...

12:28 AM  

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