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Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but that’s not true at all.
It's kind of hard to sell 'trickle down,' so the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory.
One thing is certain. At some point global investors will lose confidence in our (U.S.) easy dollars and debt-financed prosperity, and then the chickens will come home to roost.
Main Street has too much debt already. It is simply a bonanza for speculators who can borrow the overnight money and then buy something that they can speculate on.
Let's have honest interest rates. Let's let the free market set interest rates in that zone where supply of savings is matched up with demand for real borrowing for capital projects.
If there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing.