During 94 days of sheer monetary madness in the aftermath of the stock market meltdown of September 2008, the Bernanke Fed printed 145% more balance sheet (money) than the nation’s central bank had accumulated during its entire first 94 years of operation. In dollar terms, its footings went from $925 billion to $2.25 trillion in virtually a monetary heartbeat.
Naturally, Wall Street speculators and the Washington politicians applauded gratefully. But future generations of US taxpayers—born and unborn—will rue the day. Then and there America unknowingly but most assuredly crossed the point of no return on a nightmarish path to fiscal calamity.