Monday, October 13, 2008
Fed chairman Ben Bernanke is nicknamed "Helicopter Ben" because he said years ago he would drop money out of a helicopter to fight deflation. And the U.S. has spent trillions in the last couple of months to try to artificially stop deflation.
Now, the European Union is now spending $2.5 trillion dollars on their bailout as well, including hundreds of billions each by British prime minister Gordon Brown, German chancellor Angela Merkel, and French president Nicolas Sarkozy.
Helicopter Gordon, Helicopter Angela and Helicopter Nicolas have now joined Helicopter Ben in throwing money at the problem, instead of fixing the real problems with the world's economy, like derivatives.