I read that much of the Quantitative Easing was being forced on banks with the mistaken idea that they would lend it all out, but the banks simply deposited the money back into the Federal Reserve at a higher interest rate. So, it has become free profits.
I also read a recent article that the UK stopped their QE after a study found that the vast majority ended up making their wealthiest investors wealthier, just like in the US.
The problem is that Progressives don't understand that their plan was like trying to PUSH a string. That's not no string works, and that's not how banks work.
Actually QE doesn't go to the banks. It's money printed by the Fed that is used to by government debt. 70% of the government bonds purchased in the last 12 months have been by the Fed. This keeps the interest rates down because no one, not even China, is interested in buying our debt anymore, especially at 1.5% return. Read fresh political commentary at: http://smallcraftadvisorychronicles.blogspot.com/
November 14, 2012 at 7:19pm
I dunno. With security compromised in Libya, four were killed needlessly. But on the other hand. . .someone’s party might get ruined in Fla.???
September 23, 2012 at 12:08pm
Fornication Under Consent of the King…You!
A rose by any other name stinks too.
September 23, 2012 at 12:06pm
Fornication under consent of the king.
Get the point? A rose by any other name stinks the same.
September 6, 2012 at 8:50pm
The last time I looked, the Old Testament is the major portion of the Christian’s holiest book!
August 19, 2012 at 11:31am
what do these girls do before going to bed? Carve turkeys and split wood?