As he
left the stage at the end of his mid-week press conference, having talked
cautiously out of the corner of his mouth for half-an-hour – because ‘sly old fox’ is a description he prob’ly
wouldn’t object to, just as he was
passing in front of the Stars and Stripes, the chairman of the United States
Federal Reserve Bank, a cerebral banker and Princeton academic by the name of
Ben Bernanke, did a little skip.
Ben
Bernan-ke, who announced that the Bank would continue subsidising the US
economy to the tune of $85 billion dollars a month, prompted the markets to
tick up-ke.
Let us
now praise Uncle Ben, they said, for his unexpectedly good Offices.
By the
end of the week, however, the House of Representatives was threatening to vote
down further government borrowing. This would send the American economy into a ‘tailspin’, warned President Obama; his smooth
tenor voice shrilled to sandpaper as he said it.
Wall
Street duly dipped.
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