Call us paranoid but we still see some of that “deer in the headlights” look from Chairman Bernanke in recent public appearances. After all why shouldn’t he be concerned? Unemployment appears to be intractable, the national deficit is in arithmetic realms never before seen and the remedy for its correction in the hands of Congress who seem more like a squabbling couple in divorce court than elected representatives. Furthermore the housing bubble collapse appears to have been replaced by an even bigger bubble, sovereign nation debt defaults. Buying more house than you can afford appears to be a relatively trivial problem compared to more country than you can afford.
