Singapore- Fed head Ben Bernanke wants to be a super hero!
He wants to get the credit for turning around the economy after the collapse in 2008.
He is totally afraid of the US turning into another Japan. Japan has suffered deflation and a recession that has lasted 20 years!
His most famous academic work was a study of the Great Depression. His conclusion is that the Fed should have dramatically eased monetary policy. Further, he has written that he thinks the Bank of Japan has been way too timid in battling the Japanese situation. He feels that they could have completely solved the Japanese problem by simple easing more aggressively.
He famously has said that he would fly over cities in a helicopter throwing out $20 bills to solve deflation if he had to! Hence the nickname, Helicopter Ben!
Think of it! A superhero named Helicopter Ben!
Able to stop deflation! Leap over tall objections in a single bound!
The truly sad part is that he is a terrible Fed Chairman. He is causing a lot of the problems he is trying to fix.
For example, all the massive easing he had created is simply being funneled into paying for the Federal deficits. He is facilitating the self-destructive behavior of the debt addict called the US Treasury!
At the same time, he is depressing income of consumers by billions of dollars per year through the suppression of interest rates at insanely low levels.
He may want to be a superhero but he is really a supervillan!