[hedgetrimmer]

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

--Ben Bernanke,Federal Reserve Chairman, At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois November 8, 2002

Except they HAVE done it again! Tariffs and Smoot Hawley never mentioned in his analysis

[Uncle Miltie]

I quite agree that Bernanke “has done it again,” with “it” being the opposite error of monetary contraction. He has flooded the market with money, as if to re-inflate the bubble.