Last Thursday, Federal Reserve Chairman Ben Bernanke confirmed the worst: The economy is heading into the toilet. America’s job engine is stalled. Debt loads are unsustainable. Consumers are tapped out. The big banks are insolvent. The private sector can no longer support the public sector. And oh, the government is broke.
Okay, he didn’t say those exact words—markets would have collapsed if he told the truth—but his actions indicated how he really felt.