For those who don't want to read, here is the visual version that explains quantitative easing, i.e. the "fix" that the US Federal Reserve is undertaking to avert the impending great depression:
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- An over-the-hill but under-the-cover guy waiting by the highway of life to see what random deliveries fate has for me...
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2008
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December
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- Commander-in-Chief
- The Civil War is Not Over?
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- Quantitative Easing, the Picturebook Version
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December
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1 comment:
A Specific Application of Employment, Interest and Money
Plea for an Adventure in a New World Economic Order
Adam Smith, Karl Marx, John Maynard Keynes and Alan Greenspan: a Unified Perspective
Abstract:
This tract makes a critical analysis of credit based, free market economy, Capitalism, and proves that its dysfunctions are the result of the existence of credit.
It shows that income / wealth disparity, cause and consequence of credit, is the first order hidden variable, possibly the only one, of economic development.
It solves most of the puzzles of macro economy: among which Business Cycles, Stagflation, Greenspan Conundrum and Keynes' Liquidity Trap...
It shows that Adam Smith, John Maynard Keynes, Karl Marx and Alan Greenspan don't contradict each other but that they each bring a meaningful contribution to a same framework for understanding macro economy.
It proposes a credit free, free market economy as a solution that would correct all of those dysfunctions.
In This Age of Turbulence People Want an Exit Strategy out of Credit, an Adventure in a New World Economic Order.
Read It.
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