Saturday, December 29, 2012



Ben Bernanke's Secret Message to Congress: More Stimulus, Please: by Matt O'Brien
It's right out of Ben Bernanke's playbook. As Tim Duy, a professor at the University of Oregon, points out, Bernanke's often cited "helicopter drop" speech about how to stop deflation -- the idea was you could drop money from the sky as a last resort -- did not say a central bank could do this on its own. Bernanke said a "determined government" could "always generate higher spending and hence positive inflation," emphasis on the word government. Bernanke wants Congress to help him, and he's doing everything he can to let them know.
Great piece except that last line.

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