posted by PaulNoonan at
Granted I'm a bit of an inflation hawk. But this is kinda funny/alarming (from Bernanke's Wikipedia bio):He gave a speech in 2002 entitled "Deflation: Making Sure 'It' Doesn't Happen Here" in which he discussed possible Fed actions to prevent deflation. He said "A money-financed tax cut is essentially equivalent to Milton Friedman's famous "helicopter drop" of money", referencing the possibility of a "helicoptor drop" of dollar bills as a last-resort possibility to stop deflation. Inflation hawks started calling him "Helicopter Ben."
By Mike, at 1:20 PM
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Whenever you give the government the power to do something for you, you also give it the power to do something to you.