Glad that we have more conservative Fed voting members this year to counterbalance her worst impulses, then.
Not sure if her ideas would work anyway — despite QEx, participation rate was at an all-time low last month.[/quote]
About the only thing that QE succeeds in doing is creating a bubble in asset prices somewhere. That only helps if the asset bubble is in something the general economy can participate in. In 1999 the asset bubble created a job for anybody that could write a little html. In 2004-2006 it created a bunch of jobs for real estate related activities.
This time there is no big thing in the general economy that’s related to the asset bubble in bonds and stocks, unless you want to point to increases in food stamps and disability. There was a little increased business in refinancing but that’s gone now. There was also a little increase in mobile/web 2.0 but nothing compared to 1999 and more difficult for the average Joe to retool into. Mobile web development is a little over the head of your average mortgage broker and automation has come a long way since 1999.