Ben Bernanke and his propeller- yami is in deep waters. He is fighting yesterdays problems with yesterdays remedies. Simply, the deflation he is trying to reverse is what all of us need to survive. How can employment and wages go up when increasingly jobs and wages are being eliminated and held down respectively by technology and software that replaces humans. Consequently the push by Ben and the fed to raise asset classes by easy money and quantitative easing is actually the Kool -Aid that we should not drink. The prime example is the reflation of housing prices. Instead of making housing affordable, he is pushing the real estate market out of peoples reach.. Because the easy money he provides is mostly used by speculators who crowd out prospective home buyers who want to live in the house and not parlay it's price appreciation.
Ben will be back at Princeton before this latest bad policy/bubble is seen for what is-a bad choice. But Ben will have written a book and will have many speaking engagements lined up by then. Come to think of it, software could replace Ben at Princeton by replacing him with a simple loop recording of " Money isn't the answer and will never replace sustainable personal responsibility."