No Way Out
1st November 2025
Back in the distant past of 2010, Ben Bernanke sat before Congress and
lied his ass offassured everyone that quantitative easing was “temporary” and would be “reversed” once the emergency had passed.It was supposed to be a short-lived anomaly, a controlled detour from monetary orthodoxy. The balance sheet would shrink, markets would normalize, and the Fed would quietly step back into the shadows.
Here we are fourteen years later. The detour has become the highway.