Reporting from Santiago, Chile

I really hate to beat a dead horse, but I wouldn’t be doing my job for you if I didn’t point out some of the most intellectually dishonest, self-aggrandizing Bernanke-speak to come out of the Fed Chairman’s testimony yesterday:

“[The Federal Reserve has] 25 years of success in keeping inflation low and stable, not just in the United States but around the world.” Translation: “I have not set foot in a grocery store or gas station in decades.”

“Our estimates are that we’ve helped create many private sector jobs, government jobs to support the economy quite significantly.” Translation: “In my sole discretion where I get to completely ignore all data points I don’t like, I am doing a heck of a job.”

“I am very much in favor of getting our fiscal house in order but I think it’s a long run issue and I would be supportive of a less front-loaded set of measures.” Translation: “Feel free to continue kicking the can down the road.”

“The best way to get interest rates up is to not raise them too quickly.” Translation: “No matter what, I’m going to continue printing money and justify it with puzzling drivel.”

“I don’t see any sign that that’s happening (the U.S. dollar losing status as world’s reserve currency).” Translation: “I pay absolutely no attention to what’s going on in Russia, China, the Middle East, or the gold market.”