by Ellen Brown, Web of Debt
The economy could use a good dose of “aggregate demand”—new spending money in the pockets of consumers—but QE3 won’t do it. Neither will it trigger the dreaded hyperinflation. In fact, it won’t do much at all. There are better alternatives.
The Fed’s announcement on September 13, 2012, that it was embarking on a third round of quantitative easing has brought the “sound money” crew out in force, pumping out articles with frighting titles such as “QE3 Will Unleash’ Economic Horror’ On The Human Race.” The Fed calls QE an asset swap, swapping Fed-created dollars for other assets on the banks’ balance sheets. But critics call it “reckless money printing” and say it will inevitably produce hyperinflation. Too much money will be chasing too few goods, forcing prices up and the value of the dollar down.
by Frank Li
Today, there are four living past American Presidents: Jimmy Carter, George Bush, Bill Clinton, and George W. Bush. How do their respective parties view them?
In the 2012 Republican National Convention, neither Bush showed up.
In the 2012 Democratic National Convention, Jimmy Carter did not show up. However, Bill Clinton not only showed up, he also played a prominent role as the keynote speaker.
How, then, should President Clinton be viewed by America today and in history?
Editor’s Note:This article is republished with permission of LEAP/E2020. See end of article for credits.
- Public announcement GEAB N°67 (September 16, 2012) -
As LEAP/E2020 anticipated since the end of 2011, the end of summer 2012 marks the beginning of the revival for Euroland with the emergence of a positive dynamic fed by two lasting phenomena: first, the progressive operational installation of the instruments bitterly discussed and decided upon during the last 18 months and, secondly, the visionary spark brought by the political changes of the last six months which have put Euroland’s medium to long term future back in the middle of the decision-making process. The Euro’s progress these past weeks offers a perfect illustration of the phenomenon (1). That being said, Europe will be in recession for the next six to twelve months. It just goes to show that the only good news that we announced in the June 2012 GEAB issue is far from being miraculous.
by Elliott Morss, Morss Global Finance
I have considerable sympathy for the position you are in. As a politician, you are trying to represent the view of the German people. And they have had it with bailouts for the banks and the “weak sisters” in the Eurozone. Sadly, the need for new bailouts comes only a few years after the West Germans paid huge amounts to re-unite with and rehabilitate East Germany. On top of all this, your Bundesbank, still traumatized by hyperinflations that took place 90 years ago, is not cooperating.
Editor's note: The author has conducted a sobering interview with Neil Barofsky, Senior Research Scholar, Senior Fellow and Adjunct Professor of Law at the New York University School of Law. From December 2008 until March 2011 Mr. Barofsky served as the Special Inspector General for the $700 billion U.S. Troubled Asset Relief Program (TARP) that bailed out the U.S. banking system in 2008.
Click on photo for large picture of Neil Barofsky.