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You are 100% corret Hanrahan, Bernanke is trying to learn the mistakes of 1929 when they failed to pump liquidity in the market. ANyway, there is no point trying to pump liquidity in the market when the Fed has created a $100 trillion mess through poor monetary policy. Don't think it will be like the 1929 great depression, i do think we will have a japan style economic compression....many qtrs of .5% to zero growth. Sometimes i think we should perhaps go through 4-5 years of severe pain and start over again rather than grinding south for 10 odd years.
