I read somewhere that he studied the Great Depression throughout his whole career - creating scenarios on what he would do if he had the authority then that he had in 2008. I’m sure he believes this because he studied it so much - there is no possible way he could be wrong about it, it justifies everything.
actually, bernanke was a student who studied in depth the great depression...
every action the fed took was not designed to bring us out of recession, but to prevent depression...
the real worry now is going to be the contraction that has to come...
if controlled, it will be painful, but we will come out on the other side stronger than ever...
if allowed to go too quickly, the result will make the aftermath of 1932 seem like childs play..