by Michael Covel
Look, up in the sky! It’s a bird! It’s a plane! No, it’s… it’s… Janet Yellen in a helicopter with bags of cash.
No kidding. That’s the Fed’s plan when the next recession hits. The Fed’s Dear Leader coming to the rescue with airdrops of free cash for everyone. What could possibly go wrong?
At a recent press conference, Federal Reserve Chairwoman Yellen admitted that the Fed would consider using “helicopter money” in an extreme downturn. What’s “helicopter money”?
It’s a phrase used to describe when governments print massive sums of money and then “drop” them on the economy… hoping for the best. Sound insane? It is.