Vladimir: “Well? What do we do?”
Estragon: “Don’t let’s do anything. It’s safer.”
From “Waiting for Godot”
In Waiting for Godot, two men spend more than an hour talking nonsense and it’s called Theater of the Absurd.
After last week’s Federal Open Market Committee (FOMC) meeting, Fed Chair Janet Yellen spent an hour talking nonsense and it was called a press conference. But, really, it could be argued that the Fed is at least as absurd as anything in Waiting for Godot. Much of the dialogue in Godot could, in fact, have come from the FOMC. For example …
Vladimir: “I don’t understand.”
Estragon: “Use your intelligence, can’t you?”
Vladimir uses his intelligence.
Vladimir: (finally) “I remain in the dark.”
Estragon: “I can’t go on like this.”
Vladimir: “That’s what you think.”
The FOMC has continued ZIRP (zero interest rate policy) for 90 months. Estragon and Valdimir waited for Godot for only a couple of days.