Paul Krugman finally comes out strongly about Bernanke’s inaction regarding the threat of deflation, which could threaten decades of recession.
It isn’t just the the fact that Bernanke who has sterling academic and economic credentials, unlike Greenspan who got his PhD from the back of a cereal box, but he continues to ignore the threat of deflation.
The problem is that Bernanke literally wrote the book on the dangers of deflation, and he is consciously eschewing the policy prescriptions that he called for nearly 20 years ago for Japan.
Greenspan was what Lenin called a “Useful Idiot.”
Bernanke knows better, which is why Krugman is calling him “feckless”.
In the immortal words of my father and namesake, a man who spent his entire career in finance, "Greenspan? Greenspan's a whore."
( I've probably left that quote here on another post of yours, but it's such a great line, from a man of impeccable finance credentials, that it bears repeating, don't you agree.)