I don’t say this enough because he’s a close friend and it’s weird, but Matthew Yglesias really is the best blogger in the game. This dissection of Time‘s decision to anoint Ben Bernanke its Person of the Year is an instant classic. These two sentences alone are worth the price of admission:

[I]t demonstrates a very specific class skew—extraordinary intervention into the market place just long enough to fix the situation from the point of view of asset-owners while leaving wage-earners holding the bag. But the owners and managers and editors of Time Magazine and the companies that advertise in it probably don’t care so much about that.