Trying to predict human behavior is impossible. In fact, often when you think you are doing someone else a favor, they give you a middle finger and walk away.
Ben never considered that possibility. Because Ben ASSUMED he understood history and human behavior when in fact...he doesn't know jackshit about either.
Briefly, let me explain. In 2002 before the Fed Board of Governors, Ben the self proclaimed expert of the Great Depression thought he knew how to stem the four years of rapid deflation that occurred from 1929 to 1933. Avoid deflation by printing gobs of money. That in fact worked and by the time the US entered the WWII, the Depression was gone.
So Ben though he had the answer. Print money. Drop it from helicopters. Inflate the economy was his answer. That was Ben's answer to what he would do in a similar situation and that's what he told the Board of Governors that day. The Governors ASSUMED that Ben knew what he was talking about. They gave him great credibility. Where did Ben go wrong?
Ben assumed incorrectly, that if you dropped money from helicopters that people would bend over and pick it up. That assumption is turning out to be quite false as evidenced by the lowest housing prices, the best mortgage rates in in half a century, and the biggest drop in existing home sales in decades.
Ok, so where did Ben go wrong? When the US availed themselves of the gold standard in 1933 to print money...a dollar was still worth a dollar. It had VALUE. People believed this. In the intervening 80 years- the Fed has inflated the dollar to the extent that it is essentially valueless. And just because you drop shit paper from your helicopter, leaflets, doesn't mean anybody is going to pick them up. The world changed. And only the dumb asses and the desperate will fall for the ploy. Ben assumed the same trick would work twice. Wrong.
We are broke Ben. Everybody knows this. Everybody knows the leaflets are valueless. A few of us are still happy that the majority of you assclowns are still accepting the leaflets as a medium of exchange. We are busying buying things of tangible value, buying silver and gold on the dips, and preparing for financial Armageddon. And it will take a miracle to rescue us. This from a government that has proven time and time again that they view every problem the same way, like a nail...and thus every solution requires a hammer. It's time to saw wood Ben...and you ain't got the tools to get 'er done.