Fears regarding the fed confirmed?

I hope not, but take a look at this article and ask whether it's possible that "inflation rate targeter" Ben Bernanke has ignored the lessons learned during the Carter and Reagan administrations by Paul Volcker.  I remember when President Bush appointed Bernanke, it troubled me that he was an "inflation targeter" and not a fairly strict monetarist like Greenspan.


 We are apparently on the brink of "Quantitative Easing 3" (more inflation), predictions of new jobless filings are almost always a "surprise" or "unexpected", and nothing the government has done has worked. 
 
Much like 1929-1939, of course.  The only bright side here is that perhaps the futility of Keynesian economics may be exposed through these events.  Maybe someday soon, politicians of both parties will realize that there is a difference between public and private goods, and that putting tax money into private goods is simply to throw money down the toilet.