David Fry's  Instablog

Perhaps Bernanke's grand academic research didn't factor in modern conditions. Low interest rates during a recession were certainly appropriate but everything else (stimulus, QE and even bailouts) you could've left out from my view. Yes it would've been brutal not bailing out banks here and abroad; but, the harsh pain may have been over quickly. And, if proper accommodative public policies were in place (tax rates, "fair" trade, energy independence and etc.) the economic comeback may have been quick, given the unleashed animal spirits. It's sort of like the dentist telling you he wants to remove your four impacted wisdom teeth one tooth at a time per year. No thanks. Let's get it over with

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