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Letter: Obama's quantitative easing unsustainable

By: Zimbler0 in FFFT | Recommend this post (2)
Sun, 09 Feb 14 6:13 AM | 79 view(s)
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Msg. 60954 of 65535
(This msg. is a reply to 60952 by oldCADuser)
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Letter: Obama's quantitative easing unsustainable

http://www.newsleader.com/article/20131014/OPINION/310140012/Letter-Obama-s-quantitative-easing-unsustainable

Obama's actions have led the Federal Reserve to start a quantitative easing policy that prints money to buy government bonds from big banks and lowers interest rates to increase borrowing and spending.

A QE program is instituted as a last resort in a failing economy. So far, this policy has raised inflation and transferred wealth from the middle class to the affluent by enriching banks and elevating the stock market, but inspired no economic expansion.

(Article is in its entirety at the link. Zim.)

Mad Poet Strikes Again.

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The above is a reply to the following message:

Re: Wingers. By: oldCADuser in FFFT Sun, 09 Feb 14 6:07 AM	Msg. 60952 of 65535
Obama has no say in what the Fed does, His only responsibility is for the appointment of the Fed Chairman, the rest of the voting members are appointed by the 12 Federal Reserve banks, which are NOT agencies of the government.

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