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Thursday, March 22, 2012 4:59 PM

Atlantic Magazine Cover Proclaims Ben Bernanke "THE HERO"

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If you are looking for the most nauseating cover possible on Ben Bernanke, please consider the April 2012 issue of the Atlantic.

The cover asks the question "Ben Bernanke saved the global economy. So why does everyone hate him?"

For starters Ben Bernanke did not save the global economy. Making such a proclamation is like a football fans proclaiming victory at the end of the third quarter with the score 54-24 following a 24 point rally after being down 54-0.

Simply put, it is far too early to make a presumption the Fed "saved" anything given the global economy remains hugely imbalanced and highly vulnerable.

Furthermore, we can state without a doubt Bernanke is Inflationist Jackass, Devoid of Common Sense, and Clueless About Trade, Debt, History, and Gold.

Even if the game was over, why should any credit be given when we can say without a doubt the Fed caused the global economic crisis in the first place?

Once again I repeat ....

Bernanke: Why are we still listening to this guy?

The following video should make people think twice about listening to anything that Chairmen of the Fed Ben Bernanke says. It's a compilation of statements he made from 2005-2007 that will have your head spinning.

Please play that video. Bernanke proves over and over again he is a clueless jackass, devoid of common sense.

Proving that he cannot think clearly, Roger Lowenstein, writer for the Atlantic says "The visceral criticism of Bernanke is hard to fathom." Really?

Lowenstein concludes with "history may marvel that Bernanke has been a success".

Contrarian Cover Indicator

I suggest the cover for the Atlantic will prove to be as contrarian as the Time Magazine Home $weet Home | June 13, 2005 cover.

I used that cover to call a top in housing. Take that Atlantic cover as another huge contrarian indicator.

Given the enormous global imbalances that still remain were caused by the Fed, given that "too big to fail" has become "too bigger to fail", given that those on fixed income have been crucified by Fed policies, and given US deficits are over $1 trillion as far as the eye can see, the idea the "global economy has been saved" by the Fed is preposterous.

Mike "Mish" Shedlock
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