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Wednesday, November 13, 2013

Thank You, Captain Obvious

I normally won't link to the WSJ (since they got bought out by The Evil Empire), but this article is not behind the pay wall and is worth reading, if just for the laughs. It is by a former Federal Reserve trader, and the title is "Confessions of a Quantitative Easer". The thrust of the article is the admission that (be prepared for a shock) that quantitative easing has not accomplished one iota of it's stated mission: to reduce unemployment and support the economic recovery. What is was in reality was a Wall Street bailout.

Gee, thanks for the newsflash, Captain Obvious.

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