The one point that I cannot emphasize enough is the one that was made to certain political others, who will go unnamed in this, back at the time of the fiscal meltdown around 2007. I stressed the point that although quantitative easing was essential, it was absolutely necessary for government to have a plan and to implement that plan, to assure the use of that new money to meet the needs of the people of the United States. In other words, the use of the money for infrastructure, energy, transportation, military goods, and culture, such that it would boost real GDP, providing real growth, at a grass roots level. Instead America choose to feed its fat bankers, rather than looking after its people. The consequences of that will be increasingly felt, as the current crisis worsens, and from each of the root cause factors that are part and portion to the current crisis. I warned that what I called "weak quantitative easing" as was chosen by Washington, as opposed to the "strong quantitative easing" that plans and exerts significant control on the use of new money, would lead to what can best be described as a condition of constant infusion of new blood into a body that is continually bleeding, without doing anything to close its wounds. Really far from an effective solution to the real problems, as the numbers continue to show, and as the current crisis so intensely demonstrates.
Posted on: Wed, 02 Oct 2013 16:43:47 +0000
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