As usual, today's congressional hearing featuring Federal Reserve Chairman Ben Bernanke didn't disappoint when it comes to tortured metaphors for the U.S. economy.
Here's this gem, courtesy of Senator Dan Coats, a Republican from Indiana:
THE U.S. ECONOMY IS LIKE A HORSE, BUT WHERE THE HECK IS IT?
Chairman Bernanke, sometime earlier you and I had a conversation, and I asked you the question about why the United States was doing relatively better than its neighbors across the seas and others, and you said, 'Well, it's because we have the best-looking horse in the glue factory.'
I'm wondering where that horse is now. Is our horse still in the glue factory? Is he in the pasture just outside the glue factory or is he back on the farm?
To which, Bernanke responded: "We really have done better than some other countries for a variety of reasons" and "We are moving in the right direction."
Hey, at least the horse isn't in the Ikea meatballs, right?
THE ECONOMY SHOULD BE PLAYING BASEBALL WITH THE KIDS
The chairman of the committee, Rep. Kevin Brady, a Republican from Texas, had this analogy:
It's frustrating. Here we are nearly four years after recession ended and this economy is in such a weak state, fragile state.
At this point, the patient ought to be out of the hospital, done with rehab and playing baseball with its kids. I feel like the economy is in the outpatient room and the Fed continues to feed it medicine on a daily basis, asking, 'Are you getting better?' But my worry is that the Fed doesn't have the prescription for what ails our economy.
Just be glad the fiscal cliff metaphors are over for a while.
Federal Reserve Chairman Ben Bernanke headed back to the classroom Tuesday, and defended the Fed against its most outspoken critic, Ron Paul.
In a lecture otherwise about Fed history and the Great Depression, Bernanke devoted four slides to discussing "problems of the gold standard."
For years, Congressman (and now presidential candidate) Ron Paul has argued to abolish the Fed and revert back to a system where U.S. dollars can be redeemed for MOREAnnalyn Kurtz - Mar 20, 2012 3:37 PM ET
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