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[Clansgian AT wmconnect.com]

Gene:


> The eyes of the world are upon him. Like Greenspan, Bernanke knows 
> that his words can move markets, so he is circumspect. Circumspection 
> does not include untruth.
> 


Your protasis is self evident, but the conclusion, while right, wants 
refining.  Bernanke can sneeze the wrong way and unintentionally affect broad 
markets 
and while circumspection cannot include out right mendacity, it cannot 
include the stark truth either.

If Bernanke were the usher in a crowded movie theater, would he affect a 
different demeanor if it were false fire alarm than for a real fire? "Please, 
let's remain *orderly*, stay calm, everything's under control."  He's very 
unlikely to say, "Oh, my God, run for your lives!!"  He'd just start more 
panic 
causing more mayhem and getting fewer people to safety.  He'd be measured and 
calm 
in his statements no matter what the actual situation.

Notice that Bernanke himself didn't say "soft landing".  He said "orderly".  
What does that mean?  It smacks of Greenspan's comment that the markets were 
"frothy".  "Orderly" sounds like the very sort of clucking, soothing sounds 
someone would say to keep people from panicking in a real emergency.

> 
> Be grateful. Such a condition as you describe would predict a falling 
> population. 
> 
> 

I hope you are right about that, and I suspect you are.