[quote=briansd1][quote=CA renter]
According to Brian, it didn’t cost us anything!
It’s all good… ;)[/quote]
Monetary policy didn’t cost anything in nominal terms. And if you still believe that we had and are having deflation, then it’s been beneficial in real terms.
CA renter, the Federal Reserve made money in 2009 and 2010 because prices of the assets they purchased increased.
As Ken Roggoff of Harvard said, QE1 and QE1 were half-baked and timid. The Federal Reserve should have been more decisive.
They are adding MORE debt to mask the deflation. Mind you, it’s too much debt, and too-high prices as a result of that debt, that are the cause of our problems. Deflation is the solution to our problems, it is not the enemy; but the idiots on Wall Street and in D.C. refuse to acknowledge this.
They keep thinking we’re having “liquidity problems” when **too much** money, concentrated in the hands of too few, is sloshing around the globe, driving up prices for basic goods that people need — people whose wages have NOT gone up in the past few years…or decade…or decades, depending on how one looks at it.
