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Behold Bernanke's Power!

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January 11, 2008 – Comments (4)

Good old Inkjet Bennie. He managed to float the market for an entire day with his new helicopter pledge. Maybe he should have unbagged those wads of money, though, because it appears that tossing out one-ton sacks might have squashed traders flat. Today's drop obliterated yesterday's good time, alas, but hey, he can always make another speech, right? Maybe drop rates 2% in one swoop?

My wife suggested old Bennie do this: set the funds rate at about -3%. Heck, make all the rates negative. Punish everyone enough for not spending their moolah immediately, or loaning it out to bad credit risks. Borrow money and you'll get paid! But you hafta spend it on something right away. Gotta be worth a try, no? We'll have the economy fixed right up in no time, just in time for an election, maybe.

 

4 Comments – Post Your Own

#1) On January 11, 2008 at 5:46 PM, abitare (32.06) wrote:

I am dying to repost the youtube video of Dr Ron Paul grilling this guy again. Or Jim Rogers on FT calling Helicopter Ben a "disaster", who has spent his "whole life studying the printing of money".
.

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#2) On January 11, 2008 at 6:49 PM, abitare (32.06) wrote:

Forget it I cannot help it! Here is just 20 seconds:

I am going to get banned from TMF!

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#3) On January 11, 2008 at 8:26 PM, Aerius (81.36) wrote:

Tell us who you support for president abitarecatania. Kinda difficult to pick up from your posts :).

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#4) On January 11, 2008 at 10:35 PM, dwot (52.34) wrote:

People are going to find out the hard way why it won't do much this time.

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