Bernanke´s Baseball Metaphor?

His latest post:

Saturday’s game also reminded me of one of the reasons that I like baseball so much. No other sport provides such a detailed record of performance, covering thousands of games and players back to the nineteenth century. That means that every game takes place in a rich historical context. In that context, Max Scherzer wasn’t pitching against the Pittsburgh Pirates; he was pitching against a standard of achievement established over decades. Thus, a one-sided baseball game on a hot and humid Saturday afternoon in Washington became a game that I and the other 41,000 fans there will always remember.

Bernanke´s “monetary policy pitch” was also memorable, but for negative reasons! He´s the “post-war champion” in the “worst pitch in the Nominal Spending category”!

BBs MetaphorThe outcome: Little real growth, low employment and below target inflation. A “triple crown” achievement!

2 thoughts on “Bernanke´s Baseball Metaphor?

  1. To extend this metaphor, Ben’s erstwhile pals at the Fed have predicted they will not have enough pitchers to play all of next week’s games, despite their ability to sign free agents, call up help from the minors. Mind-boggling.

  2. 1. Bernanke obviously has never read the Daily Racing Form, which covers thoroughbred horse racing in great detail, for a more one-dimensional setting.

    2. But then, why would Bernanke ever go to a race track? He has the personality of central banker, not a risk taker.

    which leads to 3. If central bankers are not entrepreneurs, venture capitalists, real estate developers, small business guys, but statisticians obsessed with inflation, what sort of policy will you get?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s