Long-time urbanites relocate to a 270 year old farm in rural New England. Domestic chaos ensues, resulting in "...a year's worth of hilarious observations and amusing anecdotes." - Kirkus Review
Saturday, November 13, 2010
The Ben Bernake and The Economy
Question: So why do they call it Quantitative Easing? Why don't They just call it Printing money? Answer: Because printing money is the last refuge of Failed Economic Empires and Banana Republics, and The Fed doesn't want to admit that this is their only idea. Question: So [The Fed] thinks that during a recession, when The People have less money to buy the Stuff, it is Bad when the prices go down? Answer: Yes, The Fed would rather have The Inflation.
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Question: So what is deflating right now? Answer: The only thing deflating that I can see is The Fed's credibility. Question: Did They have a lot of credibility to start with? Answer: No. Question: Why not? Answer: Because The Fed has been wrong about every major economic development in the last 20 years.