The lies they tell are there for a strategic reason. They are the glue that holds the flimsy financial structure together nowadays. As I watched and listened, I kept thinking how absolutely mind-blowing it was to have these non-truths exit their grinning lips with such calm demeanor. It must be a requisite for their type of position, as with politicians, to be able to lie through their teeth in a completely natural and believable manner.
Federal Reserve Chairman's Job Requirements: Hang your scrap of Ivy league paper on the wall that says you have been schooled sufficiently to tell bald-faced lies with aplomb and professional composure. Bend the truth into tangled pretzels with a smile on your face. If the truth comes tumbling down like a thundering avalanche tomorrow, keep smiling and tell them that it is a temporary set-back. What matters is telling the lie today, convincingly, while you're on camera. Everything else be damned!
On the opposite side of this very bent coin we have George Ure's blog comments written on the same day the Bernakie forum took place. Ure paints a not so rosy picture of our current financial condition. Couple Ure's post with Andre Heath's collection of sobering items concerning climate changes around the world, and you wonder what the hell makes soulless bankers think we're so dim-witted that we would fall for their b.s. time and time again?