Economics Good Cop, Bad Cop

While Bush was putting his usual spin on the condition of the economy, convincing those who would believe anything that the economy is on the up swing, Bernanke was in-front of the Senate Committee in a position where he had to tell the truth.

Having to tell the truth and nothing but the truth, Bernanke stated to the Senate Committee that the Economy is still sliding downward and that the Inflation continues to soar.

If the president were under Oath to tell the truth and nothing but the truth, his speech would have painted a different picture of despair and the trouble yet to come. But Bush is in a position where he can say anything to the same people who are being forced out of their homes, to the people who are cutting back on essentials to pay for gas to get to work, to the people who will have had to rotate their bills to pay for heating oil before the cold weather comes, to the people whose home values have dropped (in some cases as much as $250,000.00+ drop in value for the average middle class home), to the people who 'Quick Sold' their homes for hundred thousand less than what was owed on their home mortgages causing their neighbors home values to plummeted. Yes, Bush is a politician. Not the smartest one in the bunch, but he is a spinner.

Looking back on my days in school, I remember it was the truth of events and dates that are studied in history. Bernanke and the economy will be in history, like the events that led to the depression. History is 'Never' based on a spin.