The end of monetary policy and the impending death of the dollar

Brendan Conway sends this positively horrifying St. Louis Fed graph of the U.S. monetary base. Where’s the Cato Institute when you need it?

How can the dollar not crater as a result of this? What’s most frightening, Brendan notes, is that U.S. productivity growth follows a much slower growth pattern over the same period. The difference starts to be especially pronounced in the 1980s, and then just goes off the chart in the last year.

Save us, Obi Ben Bernanke!

(Hat tip: NR)