Desperate for innovative solutions. Ben Bernanke is really thinking outside of the box…and continuing the same mindless monetary policy the Federal Reserve has followed for years:
The Fed has been extremely creative about using its existing legal authority and massive pool of resources to try to stabilize the financial system during the past 14 months. Just yesterday, it announced it would triple the size of a special program through which it injects cash into banks. It also vastly expanded a lending program for foreign central banks to make $620 billion available to pump into the financial systems in other large countries.
When will they ever understand? Destroy our currency and destroy our economy. I’m not an economist. I don’t even play one on TV. But this seems just maniacal.
Here’s a rather simple explanation on why the bailout as poppycock from the get-go.