[Peace-discuss] Why the Fed is Steering the Economy Into Deflation

[Jenifer Cartwright]

If this is true, as seems likely, it surely isn't news to Obama??? --Jenifer

--- On Thu, 7/15/10, David Green <davegreen84 at yahoo.com> wrote:

From: David Green <davegreen84 at yahoo.com>
Subject: [Peace-discuss] Why the Fed is Steering the Economy Into Deflation
To: "Peace Discuss" <peace-discuss at lists.chambana.net>
Date: Thursday, July 15, 2010, 8:22 PM

http://www.counterpunch.org/whitney07152010.html
 

"Inflation is not a problem. The economy is in a depression. The historic low yields on Treasuries indicate an appetite for high-quality liquid assets. The Fed should satisfy that need by issuing more debt, selling more Treasuries, increasing inflation expectations. That would increase spending and pull the economy out of the doldrums. Instead, Bernanke preaches austerity, because the real objective is political--dismantling Social Security and other popular programs. Bernanke (a Republican) has aligned himself with the GOP and Wall Street who seek to bury Obama in the midterms by trashing the economy, keeping unemployment high, and increasing the prospect of another vicious downturn."


      
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