Saturday, February 19, 2011

Fed Officials As "I Didn't Do It Kids"

In the Simpsons episode "Bart gets famous", Bart Simpson gets famous after having accidentally knocked down an entire stage in front of a studio audience, yet immediately exclaims "I didn't do it". The audience however thought his denial of something he obviously did was hiarious, and so did soon almost everyone else, and so Bart becomes famous for a short period as "the I didn't do it kid".

Now it is past and current Fed officials, including Alan Greenspan and Ben Bernanke that are acting as real life "I didn't do it kids". Despite the fact that it is obvious that they caused things like the housing bubble and the recent rally in food prices and other commodity prices, they seem to dedicate almost every public appearance to denying the obvious.

The only difference between Bart Simpson and Fed officials is that Bart didn't add semmingly sophisticated yet fallacious arguments with his denial which is why few simply laugh at the Fed officials. Fed officials are in other words no more credible, they're just more boring.