Thursday, Jan 17, 2008
Here we go again .....
CNN MONEY: Bush: Stimulus plan needed
This reminds me of a comedy sketch of the guy who keeps trying to solve a problem but only serves to make it worse! What can they try to come up with now - free money to households to spend in the shops???
Posted by waitingfor hpc @ 04:11 PM (294 views) Add Comment
2 Comments
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1. Orwell said...
They did it in the second world war...That put paid to the 1920's and 1930's slump.
The best Keynsian plan ever according to some commentators...
2. voiceofreason said...
Can you hear the sound of helicopter turbines warming up ?
From
http://en.wikipedia.org/wiki/Ben_Bernanke
"In 2002, when the word "deflation" began appearing in the business news, Bernanke gave a speech about deflation.[10] In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money. Control of the means of production for money implies that the government can always avoid deflation by simply issuing more money. (He referred to a statement made by Milton Friedman about using a "helicopter drop" of money into the economy to fight deflation.) Bernanke's critics have since referred to him as "Helicopter Ben" or to his "helicopter printing press". In a footnote to his speech, Bernanke noted that "people know that inflation erodes the real value of the government's debt and, therefore, that it is in the interest of the government to create some inflation."[11]"
Sell dollars now !