It’s not surprising that Ben “The” Bernanke doesn’t understand why the economy isn’t rebounding as quickly as he had hoped. After all, he’s a guy who has supported Barack Obama’s ridiculous Keynesian “stimulus” spending being supported by as close as one can get to “artificial” market levels for long-term interest rates.
Maybe he should read a little history: As FDR’s treasury secretary once said — In May 1939, FDR’s Treasury Secretary Henry Morgenthau testified: “We are spending more money than we have ever spent before, and it does not work. … I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. … I say after eight years of this administration we have just as much unemployment as when we started … and an enormous debt, to boot.”
So you see Mr. Bernank, it just doesn’t work, now does it.