Ben Bernanke, You Have Met Your Match
http://www.vanityfair.com/politics/features/2009/…
He's the man you love to hate, Kim Jong Il. When he isn't rolling in his armored train where he has live lobster helicoptered in, he is busy counterfeiting US currency to the tune of billions.
Is KJI not effectively conducting expansionary monetary policy? Shouldn't the Keynesians, at least for the moment, be applauding this guy for operating a counter-cyclical growth in the money supply?
At least when Kim prints, his new dollars don't sit dead in some Fed account. They are being spent directly on armored limos and h****rs. That is stimulus I can believe in.
Very interesting article.
It's interesting that such a shitty country with virtually no resources or outside help can achieve such an incredible thing. Makes you wonder what they'd be capable of with our technologies.
BTW, I can take that punk any day of the week.
Who would win in a fight, 1982 Volcker or 2010 Bernanke?
Volcker unanimous decision. Hell, Volcker today could probably pack a punch.
Ben, I met you when you were still teaching IS/LM at ol' Princey. You've moved down in the world since then my friend.
I spend my days printing benjamin's to buy WSO credits
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