Confusion and fear
Financial markets are in a state of confusion and fear, and the operators pray for the deus ex macchina to show up and bail them out, but the money doctor here on earth has only cheap tricks in his pocket.
The mess is too large to handle — and it is a mess that the world’s greatest central banker has left behind for his minor successor to clean up.
This is what Benjamin should say: I’m just the cleaning boy. My name is Ben and I like helicopters. But my true mission is to come here and clean up. Don’t blame me for the mess that is here. The true scoundrel is the other guy. Alan is the guy who fed the monster. If you want to blame someone blame him but not me and leave me alone to do my clean-up work.
Such a speech would reveal the truth and come as a relieve. But you may bet that Ben will rather say something really silly along the tunes of economics made simple. Ben hasn’t yet grasped the art side of central banking. He has some knowledge of the science part and surely he knows about the cheat part, but his lack of handling the art side is what makes the markets go hoopla.
In the meanwhile the markets are expecting more words of confusion to come from Jackson Hole: http://www.bloomberg.com/apps/news?pid=20601087&sid=aMliIjS8UleI&refer=home