Really Plosser? (The Fed Is A Fraud)


Bloomberg gave this some ink…

“We are unlikely to see much benefit to growth or to employment from further asset purchases,” Plosser said in a speech today at the district bank in Philadelphia. “Conveying the idea that such action will have a substantive impact on labor markets and the speed of the recovery risks the Fed’s credibility.”


Charles, you ignorant slut.  Stop speaking in half-truths.

None of the QE games have done a damn thing for employment.

Employment is factually, when looked at through the only lens that matters, the percentage of working-age people who have jobs, no better than it was when QE was first initiated.

This, incidentally, is why I was all over Bernanke originally on the announcement; he has the same charts I and everyone else does and therefore The Fed Statement was a knowing, intentional fraud as there is no evidence that any of the previous QEs have done anything whatsoever to improve the job market and Bernanke knows it.

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