The Chairman of the Federal Reserve is such a swell guy, but you already would know that if you saw his Facebook page. Well, thanks to his “QE2 plan,” he’s giving the rest of us a very thoughtful Christmas present.
To be fair, I suppose it should be noted that Bernanke’s policy isn’t necessarily a bad idea – but only if you think that there will be future deflation and “quantitative easing” is the way of preventing that from happening. I’m quite skeptical, as explained here, but freely admit that I’m not a monetary policy expert (thanks for catching my mistake, Charlie). But Christmas isn’t the right time for serious discussion, so let’s just enjoy a laugh and keep our fingers crossed that we’re not heading into Jimmy Carter Inflation-land.
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Well, I’m certainly not a monetary expert either, but the way I understand things, the government has only three sources for the money they spend, and they get it all from you!
a. the taxes you pay
b. the money they borrow for you and your children to repay later
c. by general inflation, devaluing the purchasing power of their money in your pocket
see: http://www.lifestrategies.net/secret-of-success/approach-to-life/is-their-approach-viable/#money
[…] of the same story told more humorously by this special Ben Bernanke toilet paper. Or this video from Bernanke’s […]
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[…] In prior years, I’ve shared IRS Christmas gifts and presents from Ben Bernanke. […]
[…] unlike the Ben Bernanke toilet paper, this gift will be visible to everyone you see, not just people who visit your […]
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Over. Really?
Talk about “going #1” with a one-dollar bill! Merry Christmas!
http://miracleon32ndstreet.wordpress.com
“I’m quite skeptical, as explained here, but freely admit that I’m a monetary policy expert.”
Dan, you probably wanted to write: I’m a NOT monetary policy expert.:)
Anyway, Merry Christmas!