In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Nov. 16, 2010 / 9 Kislev, 5771

Dr. Bernanke's Magic Elixir for the Economy

By Paul Greenberg

http://www.JewishWorldReview.com | Ben Bernanke is proving a fitting successor to Alan Greenspan as chairman of the Federal Reserve System. Unfortunately.

The Fed's previous chairman and guru-in-chief drove interest rates down till he could scarcely get them any lower without diving into the negative numbers. It was a very popular policy. Booms always are till they go bust.

Mr. Greenspan, who in his salad days was an ardent gold bug and admirer of Ayn Rand (but I repeat myself), worked his way up to become America's fiscal genius du jour. Till his panaceas proved as reliable as panaceas usually do.

Ah, but there was a time earlier in this shiny new, fraudulent century when every word Alan Greenspan spoke was studied and weighed and analyzed -- much like fool's gold before the prospector realizes he's got only iron pyrites.

Still, for a while there, Mr. Greenspan's name was spoken with awed reverence every time he delivered himself of cryptic comments worthy of Chauncey Gardiner -- the character played by the still missed Peter Sellers in "Being There."

You may remember that late-'70s movie. The basic plot: A simple-minded gardener, thrown out of a job after his wealthy employer dies, is hailed as the financial genius of the age when his vacant comments are taken for Zen-like wisdom.

The film is supposed to be a comedy but there is something infinitely sad -- and all too relevant -- about it. And about the world's eternal eagerness to believe in simple solutions to complex problems.

Peter Sellers' performance needs to be seen again by anyone tempted to attribute omniscience to the latest inscrutable financial genius to appear on the American scene, whether it's a Bernard Baruch pontificating on a park bench in the '30s or a Warren Buffett, the folksy Omaha Flash, holding forth in these uncertain times.

These days the problem is how to help the economy recover from the last set of solutions. Remember them? They were doozies. Like having Fannie Mae and Freddie Mac back up tons of worthless mortgages. Which meant they'd be insured by the full faith and credit of the U.S. government! Well, sort of. But they could always be bundled together in large enough volumes to eliminate any risk to the buyer. What could possibly go wrong?

We all found out soon enough. For now it's the fixes that need fixing. And the simplest fix is as at least as old as the Weimar Republic, which didn't last long, either. Just start up the printing presses! If money's short, paper isn't. Just turn it into currency, or bonds, or whatever form the magic ever-expandable money supply takes nowadays. M1, M2, M3 or M-anything.

The country's latest apostle of Weimarization is Ben Bernanke, whose crew at the Fed (with the exception of the usual few spoilsports who know some history) have decided to buy another $600 billion of Treasury bonds, which should allow the banks to make another $600 billion in loans, which should get the economy's wheels spinning again. Sure result: Happy Days Are Here Again!

Never mind that banks are already sitting on mountains of cash, hesitating to invest it in an economic/political climate in which everything from next year's tax laws to the future of the country's health care is up in the air.

But why bother with details? Just get the Reichsmarks -- excuse me -- the dollars -- flowing again. And if that doesn't work, if things are still a tad sluggish, just print more of them!

Alas, the more printed, the less each is worth, till a whole society can be drowned in worthless money. "Only government," Milton Friedman noted, "can take perfectly good paper, cover it with perfectly good ink, and make the combination worthless."

For an object lesson in what can happen to the best-laid inflationary plans in real life, and in the all too real economy, see the history of the definitely former Weimar Republic.

For a more recent example, there's the Panic of 2008-09, whose after-effects are still with us. But we're supposed to believe that the same inflationary approach that led to that financial collapse will get us out of it. Just try a dose of Doctor Bernanke's magic elixir -- a whopping big, $600-billion dose -- and the economy will be cured!

Whatever brief high this medicine produces, it may soon enough prove the kind of cure that assures only a relapse.

Paul Greenberg Archives

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