As evidenced by this piece on FinancialSense, James Quinn is not a member of the Ben Bernanke Fan Club. While Benny is convinced he has all the answers to what ills the economy, Quinn points out some examples of how Bernanke has been spectacularly wrong in the past. Here’s a sampling, followed by the link to the full commentary….
The U.S. economy is a complex interaction of thousands of variables and is intertwined with the policies and actions of hundreds of other countries throughout the world. No one has a handle on the worldwide economy and no model can predict anything with any amount of accuracy. And still, this pompous professor from Princeton who has never worked a day in his life in the real world is 100% SURE that HE knows what will happen and when it will happen. I’m sure his track record of predictions and analysis will give you comfort in this statement: