Chairman Bernanke and the FED either have their heads in the ground (or up someplace else), or are intentionally destroying the economy of The United States so that it can more resemble the rest of the wretched world. The ideology is to redistribute the wealth worldwide by bringing down America.
The main policy paper at the FED’s Jackson Hole conference was: William White’s, Ultra Easy Monetary Policy and the Law of Unintended Consequences.
The paper and warnings are obviously being ignored.
Some excerpts:
“Ultra easy monetary policies have a wide variety
of undesirable ... unintended consequences. They create malinvestments in the
real economy, threaten the health of financial institutions and the functioning
of financial markets, constrain the ‘independent’ pursuit of price stability by
central banks, encourage governments to refrain from confronting sovereign-debt
problems in a timely way, and redistribute income and wealth in a highly
regressive fashion.”
Using monetary policy, White concludes all the
central banks have done is “to buy time” for governments: “If governments do
not use this time wisely, then the ongoing economic and financial crisis can
only worsen as the unintended consequences of current monetary policies
increasingly materialize.”
Dean
Kalahar
Source:
Niall Ferguson
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