Is Bernanke not that senile after all?

A really interesting case of Freudian slip is in recent Bernanke’s speech. The guy seems to understand that we are up to out throats in the steaming pile of economic recovery. Even more interesting is the fact that he seems to be using his brain often enough to admit that that steaming pile is only going to get deeper over time with all unfunded liabilities the Great Society endure us in the last 40 years or so.

However at the end of it he seems to go back to the business as usual talking some nonsenses on how US Congress can bring-up financial responsibility to the federal government.

A detailed review of the speech can be read on Economic Policy Journal website.