The Capital For 12/16/09: Remember, This Is The Second Time For Him!!

Time magazine continues its spiral to irrelevance by choosing Ben Bernanke as their "Person of the Year." It is quite amazing how this person of the year is somehow one who has failed at his overall job of helping employment and ushered in the policies that placed us into the mess where he, as Time and CNBC shill Ron Insana, is praised by our sad excuse for newspeople:

Yes, the piece makes mention of the fact that Bernanke has critics across the political aisle, though they don’t pinpoint the criticism – that he provided trillions for banks but hasn’t felt any sense of urgency to fulfill one of the core missions of the Fed, to maximize employment, and indeed sees fit to encourage severe cutbacks in fiscal policy instead of the kind of stimulus needed to create jobs that the private sector is not.

But ultimately, Time chose Bernanke for the same reason Insana worshipped at his feet yesterday – that he’s the “world’s most important man in charge of the world’s most important economy,” that he had a history in Depressions so he knew how to avoid one, etc. To Time’s credit, they do cite that Bernanke didn’t see the Great Recession coming at all, but they are sufficiently charmed by the fact that his work to dig the nation out of the hole he helped create through negligence was top-rate. They barely even mention his role at the Council of Economic Advisers under George W. Bush, pushing the economic policies that created the disaster.

Time's magazine fall form grace, just like the rest of your media, continues to unfold in front of our eyes.

But this isn't the first time Bernanke has won this award. No, I'm serious, it isn't the first time. You should know that by now.