Why Does Bernanke Lie to Us? Why Can't He Just Admit What the Problem Is?

Published: Thursday, 23 Jun 2011 | 11:15 AM ET
By: Henry Blodget, Business Insider

Yesterday, in his press conference, Fed Chairman Ben Bernanke said he really doesn't know what the economy's problem is.

Specifically, he said:

“We don’t have a precise read on why this slower pace of growth is persisting.”

That statement is pretty much a lie.

It's not completely a lie, because no one ever has a "precise read" on why the economy is doing anything. But it's a statement that ignores an elephant in the room, one that every open-eyed economist and market observer on the planet appears to be aware of except for Ben Bernanke.

Full story:
http://www.cnbc.com/id/43509918