Photo Credit: Shiny Things || Apologies, this was the best I could find at Flickr with a Creative Commons License

Once I wrote a piece advocating helicopter money, and I called it 2300 Smackers. For those who were not reading me back during the bailout, you should know that I vociferously opposed it, and wrote a lot to encourage everyone to oppose it.

The 2300 Smackers piece was meant to advocate giving the bailout to the American people, and not the banks. The piece would have been better if I had advocated limiting the money to debt reduction, but anyway…

Now we are in a situation where helicopter money is once again being advocated — surprising to me, in this Wall Street Journal article, which probably should be an editorial, by Greg Ip, someone I usually respect. This is what he advocates: