Thursday, April 30, 2009

Helicopter Ben

I've been commissioned to paint an annotated Bernanke titled "Helicopter Ben" (which makes me smile on a number of levels) so I've been looking at images of Big Ben. This one seems like a (possible) winner:



I mean, the audacity of the thing! The work I could do on that forehead! OMG! Enough with the exclamation points!

Wikipedia is a two edged sword, but for those not completely in the loop, it offers the following explanation of why they call him Helicopter Ben:
In 2002, when the word "deflation" began appearing in the business news, Bernanke gave a speech about deflation. In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money. Control of the means of production for money implies that the government can always avoid deflation by simply issuing more money. (He referred to a statement made by Milton Friedman about using a "helicopter drop" of money into the economy to fight deflation.) Bernanke's critics have since referred to him as "Helicopter Ben"
So now you know. Perhaps he's looking out the door of the helicopter. Maybe he's praying. His middle name, by the way, is Shalom.

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