Or will that be "deer", as in "deer in the headlights", a year or so from now?

Here's what Ben said today:

In a speech to the Council on Foreign Relations, a Washington think-tank, Mr Bernanke gave the most upbeat assessment yet of the global economic meltdown, saying that the gloom could be nearing a close.

"I think there is a good chance the recession will end later this year and 2010 will be a period of growth," he said.

Uh huh.

Go read my letter of July 22nd, 2008 again, which I faxed to the entirety of Congress.  Here's a couple of doozies:

Chairman Bernanke before the Congressional Joint Economic Committee on March 28th 2007: "Although the turmoil in the subprime mortgage market has created severe financial problems for many individuals and families, the implications of these developments for the housing market as a whole are less clear. The ongoing tightening of lending standards, although an appropriate market response, will reduce somewhat the effective demand for housing, and foreclosed properties will add to the inventories of unsold homes. At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."

Chairman Bernanke to Committee on Banking, Housing, and Urban Affairs, U.S. Senate, April 3rd, 2008: "Clearly, the U.S. economy is going through a very difficult period. But among the great strengths of our economy is its ability to adapt and to respond to diverse challenges. Much necessary economic and financial adjustment has already taken place, and monetary and fiscal policies are in train that should support a return to growth in the second half of this year and next year."

That's a stunning (that is, stunningly BAD!) record you got there Mr. Ben.

Anyone want odds on this prognostication being correct?

Go look at the banner on top of my blog.  When my view of where the actual long-term bottom for the market changes, based on the actions (or inactions) of our government, so will the banner.