My Goodness Gracious

“The United States is a 236-year old country, and almost 40% of the entire public sector debt has been built up by the current Administration in barely more than two years.  The United States has a monetary base of $2.06 trillion, and nearly 60% of that has been created since Helicopter Ben took over the cockpit in early 2006.  A 236 year-old country, and well over half of the stock of money has been created in just the past half-decade.  Remarkable.  Maybe the real question we should be asking is why the stock market has only managed to double from the lows with all this massive stimulation.” David Rosenberg, Breakfast with Dave, Gluskin Sheff, February 22, 2011, p. 10.