informationliberation
The news you're not supposed to know...




Austrian Economics: Understand Economics, Understand the World
The Century of the Self: The Untold History of Controlling the Masses Through the Manipulation of Unconscious Desires
The Disappearing Male: From Virility to Sterility

The Obama Deception: The Mask Comes Off
Operation Gladio: The Hidden History of U.S. Sponsored False Flag Terrorism in EuropeThe New American Century: The Untold History of The Project for the New American Century
(more)
Article posted Nov 14 2013, 9:03 AM Category: Economy Source: David Howden Print

QE and the 0.2%

by David Howden

Early support of the Fed´s QE programs, Andrew Huszar, has just come around and recognized what some of us have known for a long time. Quantitative easing has done nothing to help Main Street and has become "the greatest backdoor Wall Street bailout of all time.”

The Fed´s bond buying program was supposed to increase the availability of credit to ailing businesses and consumers, but as of last year mortgage lending was at a 15-year low. Huszar notes that the buoyant American stock market is a large recipient of QE liquidity, but 50% of Americans don´t own stocks.

Not only has the program worsened the too-big-to-fail problem endemic at the start of the crisis, but it has actually worsened it.

“By virtue of reflating the markets, we’ve potentially taken the emphasis out of breaking up what is ultimately a banking cartel in the United States,” Huszar said, adding that “0.2 percent of banks control 70 percent of assets in this country.”

It was bad enough when people found out during the Occupy Wall Street protest that about 1% of Americans own one-third of wealth in the United States. What will the ire look like when they discover that the Fed has enabled 0.2% of banks in the country to own 70% of its assets?
_
David Howden is Chair of the Department of Business and Economics, and professor of economics at St. Louis University, at its Madrid Campus, Academic Vice President of the Ludwig von Mises Institute of Canada, and winner of the Mises Institute’s Douglas E. French Prize. Send him mail.





Latest Economy
- Atlas Shrugs
- The Euro Isn't Dead
- Video: Florida Man Finds $1 Million In Gold From Shipwrecked Spanish Fleet
- Warner Music's Response To Evidence Of Happy Birthday In The Public Domain: Who Really Knows Anything, Really?
- Liberals Sign Petition to Impose 10% "Male Privilege Tax"
- Jim Grant On Gold's Liquidation Sale: A "Vexing But Wonderful Opportunity"
- Currencies Depend on Faith, Gold Doesn't
- How Socialism Destroyed Puerto Rico, and How Capitalism Can Save It









No Comments Posted Add Comment


Add Comment
Name
Comment

* No HTML


Verification *
Please Enter the Verification Code Seen Below
 


PLEASE NOTE
Please see our About Page, our Disclaimer, and our Comments Policy.


FAIR USE NOTICE
This site contains copyrighted material the use of which in some cases has not been specifically authorized by the copyright owner. Such material is made available for the purposes of news reporting, education, research, comment, and criticism, which constitutes a 'fair use' of such copyrighted material in accordance with Title 17 U.S.C. Section 107. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. It is our policy to respond to notices of alleged infringement that comply with the DMCA and other applicable intellectual property laws. It is our policy to remove material from public view that we believe in good faith to be copyrighted material that has been illegally copied and distributed by any of our members or users.

About Us - Disclaimer - Privacy Policy



Advanced Search
Username:

Password:

Remember Me
Forgot Password?
Register

In Under a Minute, this Cop Shows Exactly Why People are Losing Faith in Police - 08/02Police Pose As Construction Crew To Extort Texting Drivers - 07/31NYPD Thugs Assault Business Owner As He Closes Shop - 08/03'I Can Detain You For Not Talking to Me!': WI Police Officer Harasses Open Carry Activists, Demands They Leave the City - 08/03Teenager Sues Police After Being Jailed for 40 Days Over a Snowball Then Cleared of Wrongdoing - 08/03VIDEO: Hillary Supporters Call For Repealing Bill of Rights - 08/03Man Threatened With Charges After Catching Post Office Delivering Mail Into Dumpster - 08/04War President Obama Authorizes Ongoing Airstrikes Against Syria - 08/03

Man Follows Speeding Cop, Finds Out He Was Speeding To Buy PeanutsMission Creeps: Homeland Security Agents Confiscate Women's Panties For 'Copyright Infringement'Cop Shoots Couple's Dog, Threatens Jail For Trying To Save Dog's LifeSWAT Team Shoots Teen Girl & Her Dog During Pot Raid On Wrong HomeDurham, NC Cop Testifies Faking 911 Calls To Enter Homes Is "Official Policy"Indiana Sheriff Says US A "War Zone" To Justify New MRAP Military VehicleTampa Cops Surveil Pot Dealer, Catch Him Selling Pot, Raid His Home & Kill Him"You Just Shot An Unarmed Man!": Witness Says Police Shot His Friend With His Hands Up
(more)

 
Top