Friday, July 17, 2020

Bernanke Calls For Bailout of State and Local Governments

Ben Bernanke

So this is what the Queer Black Lady considers fit to print.

In the New York Times, former Federal Reserve chairman Ben Bernanke has penned an op-ed calling for a federal government bailout of state and local governments.

Of course, Bernanke does not discuss the authoritarian lockdowns across the country that have pushed state and local governments closer to the fiscal edge.

For him, it is all about federal bailouts, and since the federal government has no money, it is about the Federal Reserve monetizing federal government debt.

This will not end well.

Just remember, when all this money printing wreaks havoc with the economy, mostly in terms of price inflation, Bernanke was right in the middle of urging on the madness.


1 comment:

  1. There are some potential silver linings from the lockdowns: rejection of government schooling in favor of homeschooling, rejection of the tuition fees charged by elite colleges, bankruptcy of state and local governments, etc. (However, in truth, I would prefer that those who have suffered from the lockdowns not have suffered than see these potential benefits materialize.)