tag:blogger.com,1999:blog-5695890240300110384.post5089528599585255535..comments2023-12-08T23:54:11.220-05:00Comments on America Lost: Advocates at NCSL Speak on Resolution to Restore Glass-SteagallDJLThttp://www.blogger.com/profile/12761269853937809556noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5695890240300110384.post-49848903419542505482013-08-13T13:01:37.933-04:002013-08-13T13:01:37.933-04:00Lyndon LaRouche PAC
Fed Admits QE Produces No Econ...<br />Lyndon LaRouche PAC<br />Fed Admits QE Produces No Economic Growth<br /><br />The San Francisco Federal Reserve Bank, until recently headed by Fed chairman-contender Janet Yellen, has issued a report that acknowledges money-printing QE programs produce next to zero growth in the economy. The Bank's phrase is, "asset purchase programs like QE appear to have, at best, moderate effects on economic growth and inflation." But "moderate, at best" is polite Fed-speak for what the Fed economists claim they really found: QEII, the Fed's $600 billion 2010 money-printing spree, added just .1% to GDP growth that year. And Bank of Japan's ongoing quantitative easing program, which relative to Japan's economy is far larger and faster than the Fed's programs, is doing very little for Japan's economic growth.<br /><br />Since the money-printing is simply going into bailing out U.S. and European banks' capital and excess reserves held at the Fed, the finding of no growth would not surprise anyone familiar with reality. But in certain Democratic Party leadership circles of Bernanke-worship, it's bound to cause some shock.<br /><br />One can imagine what $600 billion national credit to fund NAWAPA and high-speed rail construction would have contributed to U.S. economic growth in the same, otherwise economic depression year.<br />DJLThttps://www.blogger.com/profile/12761269853937809556noreply@blogger.com