One Reason Full Depression Didn't Happen: The Fed

  • Posted by a hidden member.
    Log in to view his profile

    Aug 01, 2014 12:37 AM GMT
    NYT: The only piece of our system that seemed to have learned anything from history was the Federal Reserve, and the Fed’s actions under Ben Bernanke, continuing under Janet Yellen, are arguably the only reason we haven’t had a full replay of the Depression. (More recently, the European Central Bank under Mario Draghi, another place where expertise still retains a toehold, has pulled Europe back from the brink to which austerity brought it.) Sure enough, there are moves afoot in Congress to take away the Fed’s freedom of action. Not a single member of the Chicago experts panel thinks this would be a good idea, but we’ve seen how much that matters.

    http://www.nytimes.com/2014/08/01/opinion/paul-krugman-knowledge-isnt-power.html
  • mybud

    Posts: 11837

    Aug 01, 2014 2:35 PM GMT
    The republicans hate to hear this...Ya see..they wanted our government to implode, so they could build on their own ideals...Those ideals are simple..The top 2% pay little to no taxes...The other 98%...Let them eat cake..So very frenchie of them.
  • Posted by a hidden member.
    Log in to view his profile

    Aug 01, 2014 3:04 PM GMT
    i think America could be the lead in economic recovery if its government would get itself out of gridlockicon_evil.gif