Doing It Again

[bindelh]

Op-Ed Columnist
Doing It Again
By PAUL KRUGMAN
Published: November 7, 2010

Eight years ago Ben Bernanke, already a governor
at the Federal Reserve although not yet chairman,
spoke at a conference honoring Milton Friedman.
He closed his talk by addressing Friedman’s famous
claim that the Fed was responsible for the Great
Depression, because it failed to do what was
necessary to save the economy.



“You’re right,” said Mr. Bernanke, “we did it. We’re very sorry.
But thanks to you, we won’t do it again.”

Famous last words. For we are, in fact, doing it again.

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[TwilightGardener]

1. I feel better about the quantitative easing thing, now--even though Krugman

doesn't think it will go far enough (he never does).