Saturday, September 29, 2012

The Real Fiscal Cliff: How to Spot the Ledge

What is the goal of quantitative easing? The goal of it is to get Americans to spend more money, borrow more money and spend it. Well, that was the problem. We borrowed all this money, we're broke, and now we have a recession because we have to rebuild our savings, we need savings so we can have capital investment so we can produce things, so we can create productive jobs. We have to transition the economy, but QE was designed to prevent that process from happening.

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