Helicopter Ben is doing the job
At least compared to the response of the Bank of Japan after their housing bubble burst. Check out this recent article on the subject which contains the following:
"The following graph compares the cumulative growth in the broad money supply of both Japan and the US for the first 14 months after the starts of their respective post-credit crash recessions (April 1992 for Japan and December 2007 for the US):
The difference is quite dramatic. 14 months after Japan's recession began, the Japanese money supply had cumulatively grown by less than 1%. Here in the US, 14 months after the start of our recession, the money supply has already increase by almost 11%."
Go Ben...get busy... pump it up...it's your birthday.....grow M2 like it's your birthday.....
Hat tip to Tim Iacono.
Labels: economic policy