That’s some really odd thinking there. Helpful advice: you might want to go in and get checked out...
In the meantime, I’ll defer to Anna Schwartz, Milton Friedman’s long-time collaborator for her assessment of Helicopter Ben:
“...Fed Chairman Ben Bernanke, of all people, should understand this, Ms. Schwartz says. In 2002, Mr. Bernanke, then a Federal Reserve Board governor, said in a speech in honor of Mr. Friedman’s 90th birthday, “I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”
“This was [his] claim to be worthy of running the Fed,” she says. He was “familiar with history. He knew what had been done.” But perhaps this is actually Mr. Bernanke’s biggest problem. Today’s crisis isn’t a replay of the problem in the 1930s, but our central bankers have responded by using the tools they should have used then. They are fighting the last war. The result, she argues, has been failure. “I don’t see that they’ve achieved what they should have been trying to achieve. So my verdict on this present Fed leadership is that they have not really done their job.”
1. Do you really think Bernanke was running the FED in the 1930s? He is again saying he learned the lessons of the 1930s.
2. What has money growth been for the past 12 months?
3. What has happened to the price level over the last 12 months?
As with any situation, you would do well to figure out what is being done well, monetary policy in this case, what is being done poorly, fiscal policy and regulatory policy uncertainty, and who is responsible for what, monetary policy: the FED under Bernanke’s leadership, fiscal and regulatory policy: the former Dim Congress and the administration unders Obama’s “leadership” rather than just throwng the baby out with the bath water.