In Keynesian economics ALL problems are solved by creating more printing press money – we saw 17 years of this with Greenspan – Bernanke is just continuing the status quo
Greenspan at least had some economic sense before he became Fed Chairman – read his 1966 paper on how a gold standard is necessary so the govt doesn’t screw the people out of their money via inflation (http://www.321gold.com/fed/greenspan/1966.html) – Greenspan sold his soul to the govt when he became Chairman but he is now showing his true colors again by knocking the central banks and their policies (at $100K per speech) – perhaps Greenspan is really an Austrian economist at heart?
I’m not aware of Bernanke having an economic foundation based in reality – as far as I can tell he is an academician who actually believes that Keynesian economic policies work (even though history has shown repeatedly that they don’t) – Bernanke even prides himself on believing that he understands why the Great Depression occurred – he thinks that the central bank didn’t create ENOUGH printing press money and he is determined not to make the same mistake this time around – all we can expect from Bernanke is more printing press money flooding the planet (reconstructed M-3 is currently at 15% – http://www.shadowstats.com/cgi-bin/sgs/data)
