I don't expect much intellectual truth and reconciliation from academia. What will actually happen is the Fed will continue to informally create money ( via gu

I don't expect much intellectual truth and reconciliation from academia. What will actually happen is the Fed will continue to informally create money ( via guaranteeing debt MZM rather than actually printing greenbacks) to get through the crisis, and we'll either end up with prolonged stagnation or a return to "the great inflation". As non-optimum as this is, I'd rather have Bernanke at the helm, than say Ron Paul. The Austrians don't realize that you can't just let MZM collapse and have everything turn out hunky dory after a bit of pain.