One of the keys to living a successful life – one not often mentioned in the “success” literature – is the ability to keep from compounding problems when a positive outcome is no longer possible.
Unlike the idea depicted in the above cartoon, some wrong numbers just cannot be made right, no matter how hard we work or how much positive thinking we employ.
Which leads us to Bernanke’s daughter – a young East Texas woman who took her mother’s car without permission, then wrecked it.
According to the article sent by an alert reader (July 13, 2013 Tyler Morning Telegraph), rather than admit to her error, Seniya Jones claimed that a kidnapper had forced her into the car and then fled into the woods after wrecking the vehicle.
After her story unraveled a short time later, angry sheriff’s deputies arrested her, leading to the mug shot shown above.
How do we know that Seniya is Bernanke’s daughter? Because she followed her father’s example of taking a bad situation and making it infinitely worse.
In both cases – in Seniya’s with the car and Bernanke’s with the economy – no good outcome was possible. Pain was inevitable. Seniya’s mother would soon discover the wrecked vehicle, and the economy would inevitably take a hit as an overleveraged housing bubble collapsed and the derivatives based on that bubble were exposed as the worthless toxic sludge that they were.
But what did Bernanke & Co do? They legalized accounting fraud – making it difficult to put real values on any asset – and then flooded the market with cheap money. In other words, Do More of What Has Already Failed Spectacularly.
As to mug shots, we’re still waiting for Corzine’s. But it seems much less risky to steal $1.6 billion of dedicated customer accounts than to panic and call in a false police report.
In the end, we note that had Seniya been a regular reader of that august scientific publication, The Weekly World News, she would have at least known to have claimed to have been kidnapped by aliens who fled into space. This would have undoubtedly saved her a lot of trouble.