Wednesday, November 17, 2010

QE2, America's Titanic?

"The deforested Easter Islands represent a classic case of foolish (not to say devastating) economic policy, up there with China's Great Leap Forward and Herbert Hoover's tax increase of 1932," notes Martin Hutchinson, suggesting that "US Federal Reserve chairman Ben Bernanke may now have risen to the challenge of equaling those follies" — Bernanke's Easter Island moment.

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Omnes Sancti et Sanctæ Coreæ, orate pro nobis.