Bernanke Promises Action, Run For the Hills

A UK Guardian headline reads: "Ben Bernanke promises to step in as US economy veers back towards recession"

That's enough to give any rational person the willies. Never fear. Ben himself assures us:

The committee will certainly use its tools as needed to maintain price stability – avoiding excessive inflation or further disinflation – and to promote the continuation of the economic recovery.

Well, I feel a whole lot better now, don't you?

I wrote recently that Progressives are immune to evidence and logic. Their indifference to the history of Keynesian-inspired economic policy proves the point once again. That, or Bernanke and his ilk are simple sociopaths; I have a hard time deciding.

Most likely they are, like the leaders of the French Revolution were, in the grip of an ideé fixeé, and nothing will shake them lose from it. At least, I hope that's the explanation. The other is a little too frightening to contemplate.