The quantitative easing (QE) by the Federal Reserve was great for big banks and it helped to lift the U.S. stock market -- but it didn't help the broader economy at all. Worse than that, the structural and underlying problem of massive debts became even more pressing thanks to the Fed policies.
How did quantitative easing decrease unemployment? How did it help to increase exports? How did it help struggling small businesses? How did it stimulate consumer spending? And did it help to turn around the situation of states and municipalities facing collapsing tax revenues? The answer is: a complete failure in all categories.A real recovery would occur only if policymakers addressed the very real problems, and not through an illusionary monetary policy which helps banks and multi-national corporations only.
Saturday, August 21, 2010
Fed policy leaves U.S. economy in an even deeper hole
Fed policy leaves U.S. economy in an even deeper hole - International Business Times
at 10:24 AM