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Do smart people change captains in a storm?

By | July 9, 2009, 11:15 AM PDT

The White House is reportedly pondering the future of Federal Reserve Chairman Ben Bernanke. Wall Street is a fan of Bernanke. Congress isn’t—at the moment.

The Wall Street Journal reported that there’s a fierce argument going back and forth. Some want Bernanke reappointed. Others want new blood. Meanwhile, the economy still muddles along (at best).

For our purposes—assuming you can suspend your feelings about Bernanke and the entire financial saga—the larger question is whether you make a captain change in the middle of a storm. How important is continuity?

I don’t have any quick answers, but you may. Sound off.


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+1 Vote
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RE: Do smart people change captains in a storm?
Smart people are called "smart" people because they are aware of circumstances and react appropriately to them. When a captain has lost command of the situation, it is time to put a new person at the helm. The real "smarts," however, come into play when one has to decide who that new person is. It is not enough to identify the problem; the smart person must also be capable of identifying the solution. And therein lies the rub. One only has to take a look at the present situation in Washington to realize that although our leader is aware of the problem, he doesn't have a clue as to the solution. There is a difference between being educated (which he is) and being smart (which he only thinks he is).
Posted by esqcaped@...
13th Jul 2009
+1 Vote
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RE: Do smart people change captains in a storm?
You do if there's a smarter captain AVAILABLE. Bad analogy. People caught in a perfect storm don't have that option.

Would it really make any difference? Do you really think economists know how to construct a properly functioning system?

Do you think weather reporters can change the weather?

If economists are so freakin' smart, then why are all the economies around the world now resemble a big domino display? After WWII, Germany and Japan's economies took a hell of a hit. It didn't make the rest of us crash. Now, if Kim Jong Il farts, somebody's stock market will crash and affect all of us.
Posted by sfriedrich
13th Jul 2009
+1 Vote
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RE: Do smart people change captains in a storm?
Way to go Ben, I'm with you all the way to the bank.
Posted by syberry
13th Jul 2009
-1 Votes
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RE: Do smart people change captains in a storm?
We want Congress to choose the next "smart" captain? We want a bunch of dumb people choosing a smart person? The logic is not there! We want a "smart" President to choose a "smart" person? There is a huge difference between educated and smart. Ben has made mistakes but I say give him time and he will realize his mistakes and correct them.
Posted by fjm
13th Jul 2009
+1 Vote
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"Smart" and Lost
This administration does not have a clue about economics. Look how lost they look ! Their failed policies are not working and with the addition of Cap and Trade and Universal Health Care you might as well call it a night. We are heading into depression. Barack is in denial but even Biden, who can't keep his mouth shut, says that they guessed wrong on the stimulus package. Not even 10% into the first stimulus we are planning a second ? give me a break. We don't need to guess anymore on trillions.

Tax Cheat Tim is completely incompentent like many in this administration. What is some more turnover ? Bernanke is an upgrade. May be we need to hire yet anohter czar !

Even Bernanke will not be able to do much since the real issues are with ideaology and the policies that this government is setting forth. Hunker down....the worst is yet to come.
Posted by pizzaman7
14th Jul 2009
+1 Vote
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RE: Do smart people change captains in a storm?
There are no such things as "smart people." There are people who in certain circumstances among certain people are given a form of credibility we call "smartness." It's a social judgment, nothing more. The question is better asked "Does Bernake have credibility as the Fed chief?"

It doesn't look, by the nature of the postings so far, that the average "smart person" who responded to your question is capable of suspending their feelings long enough to answer your query in the spirit in which it was asked. Well, well, well, who would have thunk that!
Posted by Stan K.
15th Jul 2009
+1 Vote
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RE: Do smart people change captains in a storm?
When the Captain sees the storm, and deliberately navigates TOWARDS it, seeing some advantage for himself and his groupies, then damned right - we need to change the captain!

Regarding the new captain -
Educated? - yes!
Smart? Smarts come from wisdom, wisdom comes from experience - give him a little time!

His ideals are solid and it only remains to see if he has the strength of character to do what's right rather than cave in to the lobbyists and vested interests.

However, as long as the place we live is seen as an 'economy' and not a society, we're all going to hell!
Posted by rf4c
15th Jul 2009
+1 Vote
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RE: Do smart people change captains in a storm?
Reading the comments from above I realize that I am not alone on my views.
Posted by chrisanna
16th Jul 2009
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