Bernanke is adamant that he can stop inflation from happening even though he has printed huge amounts of money and taken on debt. The claim is that all the new money is quarantined in a few banks and will just prop up balance sheets, and then be withdrawn again when things get back to normal.
But money will eventually leak into the economy, from one bucket or another. One way is extending unemployment benefits, because the government will not tolerate riots when there are two million unemployed. It will also prop up the stock market every time it drops, and will prop up pension funds soon.
Don't forget State/Local funding. By the time this has run it's course the Federal Gov’t will be in control of virtually everything. Banking, Manufacturing, Heathcare, State Gov’t, and everything in between.
Folks, this is how ‘Disasters’ make Despots.