D. Bernanke here explains what is called ‘quantitative easing,’ which is actually a phrase that is describing what we used to call 'wishful thinking.' In the military it was called a 'pipe dream.'

My favorite term for it is actually from my favorite Greek word... 'baloney.'

I'm afraid though that the end result of the pictured quandary will be something worse than mere baloney.

H/T to Allison!