Bernanke is nothing more than a puppet. Of course he is going to say everything is ok. The guy is really an embarassment. Unfortuneatly when all the negative thigns that are going on unwind, investors are going to get murdered. Yesterdays selling will seem like a swedish massage. It's funny when people on Tv call him a hero...a great man. Wonder what they will think when the shit hits the fan.
Some knucklehead on CNBC said he was great for the mkts....was a hero. While 99 % of the time I had no idea what Greenspan was saying when he spoke....at least he had the balls to be honest and take a stand. Bernanke's claim to fame was his mishap with Maria Bartiromo. How this guy became MR. Fed is amazing. He is nothing more than a cartoon character in clown shoes.
Looking forward towards his rate hike before year end; either way, this market has more downside. Let him solve the problem of inverted yield before everyone calls him names.
Bernanke's philosophy is very similar to that of Irwin Fischer... controlling the emision by measuring inflation lead to the 1929 crash... there's no reason to think that the same experiment will have different results 80 years later.