I would rather have them print money.
At least inflation is not unfair, as it affects everyone by the same percentage.
Not ture. Inflation punishes those who are living on fixed income or receive wages or otherwise depend on cash. It actually rewards those who own precious assets.
Adam Smith noticed (NOT a quant, by the way) that when two people do a win-win deal, both are better off) This became his invisible hand. I liken it to Jesus "golden rule" or Hillel's simmilar observation. Of course, both were quoting Leviticus. Win-win is good, I screw you is bad...
So what does this have to do with Bernankedom? Simple... human nature creates paradigms/rules in the marketplace and if you don't understand the rules/dynamics and you try to adopt policies that contradict or circumvent the rules... you lose. The USSR was a great example. For 70 years, up was down and down was up. It collapsed under its own weight when market forces finally shattered the Utopian dreams of its dictatorial founders. They just couldn't pound 150 million round pegs into 5 square holes!
These boys are hopeless (and, notice how they are all male!).