Bernanke's Last Stand

摘要

As I watch the economy limp along and I become exasperated by the impotence of the Fed, the Obama Admin istration and the private sector in their attempts to boost employment, I am reminded of the old Indian fighters of the last century. They were stuck in a time warp fighting yesteryear's battle long after most of the native tribes had been decimated. It's 2011, and Chairman Bernanke-renowned for his expertise on the Great Depression-is fighting the monetary woes of the 1930s. The challenge of increasing jobs today is very different from what it was in the 1930s. Back then if you stimulated the economy it would increase domestic employment. It was a straightforward approach.