As “QE2″ Looms, Is the Fed Focusing on the Wrong Things?

U.S. Federal Reserve Chairman Ben S. Bernanke is looking forward to 1932. That's not a misprint. Actually, Bernanke is looking forward to a point when the challenges facing today's U.S. economy mirror the problems of that particular Great Depression-era year. And he wants that to happen for a very simple reason. He knows how to solve those problems. Unfortunately, "1932" isn't likely to arrive. And the preparations the Fed is making in the meantime are likely to deepen the United States' economic woes. Let me show you what I mean...