Well did you hear? Fed chairman Bernanke just said that he is mad at Congress for pushing the US close to default this year. (Talk about calling the kettle black – his money policies are part of the reason we are in this mess.) He also says that the federal budget shouldn’t be cut too deeply, given the current situation. Well, “Helicopter Ben” (called that because he once said he would drop dollars from helicopters to stimulate the economy), your new Operation Twist should guarantee we have more inflation while let’s see if it stimulates the economy.
Here is an article about Bernanke’s hearing on Tuesday:
http://www.latimes.com/business/la-fi-bernanke-congress-20111005,0,279470.story
and here is a story about how he got his nickname:
http://www.thestockenthusiast.com/opinion/how-bernanke-got-the-nickname-helicopter-ben-why-it-matters-right-now/
Look up at the sky – if you see helicopters dropping bails of money, duck.