A TWO-FACED POLICY THAT'S ALL WRONG: Wall Street Journal: Market View Should the Fed take more aggressive action to reduce unemployment?: "- Sent using Google Toolbar"
The Feds printing money reminds me of the family that suddenly feels 'rich' because they got another credit card.
The income didn't change, the old credit cards aren't paid off or down, it's just a chance to accumulate more debt.
As well discussed in the media, the cash is likely to flow where the other Fed cash has gone - i.e. outside the US!
When one reads articles on Geitner and the Chinese - the idea is for the Chinese to increase consumption and the US to increase its savings. Help me out here? Is this Fed policy borrowed from what the Chinese are supposed to be doing?
Monday, October 11, 2010
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