Friday, November 5, 2010

The QE 2 debate

According to Barton Biggs--the guy with more titles on his resume, the Fed's charter is to boost the stock market. Great--he just implicitly admitted that the Fed's job is to manipulate markets higher in order to paper over the structural problems of our economy. Two quarters of higher equity returns balance out the pending long-term destruction of the global economy. Wonderful.

No comments:

Post a Comment