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Human Events Quizzes Bernanke at London School of Economics

publication date: Jan 29, 2009
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Federal Reserve Chairman Ben Bernanke flew into London to meet with Governor Mervyn King, his counterpart at the Bank of England, and Prime Minister Gordon Brown at #10 Downing Street on Tuesday. He then went on to deliver the annual Joseph Charles Stamp Memorial Lecture entitled “The Crisis and the Policy Response” to our current global financial system meltdown.

Human Events was there to cover the event -- and to quiz Dr. Bernanke in the Q&A session on his Keynesian approach to the systemic money problem. The world’s media covered the event live, including the BBC, CNBC, Fox News, CNN, and Bloomberg. For a clip of our Q&A, see: CNBC Video.

OK. So here’s the problem. Keynesian solutions just don’t work. Throwing money from helicopters (or more likely C-17’s today) might just pull us out of the Great Depression II, but as we stretch the rubber band, eventually the block of deadweight banking system credit will finally spring to life and violently overshoot way before future Fed and Treasury Secretaries can reel in the excess money.

The result? Massive inflation from 2010 onwards. 25-30% would not be surprising through the teens.


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