Bernanke says “So far – so good”

WTF is Bernanke smoking?  Is “Helicopter” Ben Bernanke looking at the papers – or using them for rolling papers? According to a story on MarketWatch, Bernanke is quoted as saying “We have been encouraged by the responses to these programs” and “I think the actions that were taken prevented a much-worse situation — a meltdown […]

Benanke is looking for a big rug

“Helicopter Ben” Benanke gave a speech yesterday (Jan 13th, 2009) at the London School of Economics. You can read the whole text of it here if you’d like. I’d like to comment on part of the speech near the end, where Bernanke says this:  Public purchases of troubled assets are one possibility.  Another is to […]

Free Money – from helicopters, not trees

Helicopter Ben Bernanke is keeping his word that he’d “drop money from helicopters if necessary”.  And that’s not a good thing. The Fed today dropped the Fed funds rate to a target “between 0% and .25%” – in effect, they’re giving away free money.  A bank can take a 30 day loan and pay ZERO […]

New Federal Reserve Chairman

I ran across this tonight and just had to post it here.  I nominate Richard Fisher as the replacement for Helicopter Ben.  Finally, someone who can add! I don’t have explicit permission to post this, so if Mr. Fisher objects I will remove it immediately – but this is very important, and I think it deserves the […]