Chuck Norris on monetary policy #3
Yet another other great "fact" from www.chucknorrisfacts.com "TARP didn't have to be passed to kickstart the economy. All that the President needed to do was to ask Chuck Norris to roundhouse kick it" Well, it is entirely correct - TARP really didn't do anything to "kickstart" the US economy. Just look at the US stock markets - the ultimate forecasting tool for NGDP expectations. It kept dropping until the Federal Reserve called in Chuck Norris in March 2009 and initiated quantitative easing of monetary policy - the monetary version of a roundhouse kick.