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Fed's Massive Stimulus Had Little Impact: Greenspan
CNBC ^ | 30 Jun 2011 | Margo D. Beller

Posted on 06/30/2011 2:30:49 PM PDT by Qbert

The Federal Reserve's massive stimulus program had little impact on the US economy besides weakening the dollar and helping US exports, Federal Reserve Governor Alan Greenspan told CNBC Thursday.

In a blunt critique of his successor, Fed Chairman Ben Bernanke, Greenspan said that the $2 trillion in quantative easing over the past two years had done little to loosen credit and boost the economy.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: bernanke; greenspan; quantitativeeasing; stimulus
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1 posted on 06/30/2011 2:30:58 PM PDT by Qbert
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To: Qbert
Little impact?

Tell that to the Chinese!

2 posted on 06/30/2011 2:32:43 PM PDT by EGPWS (Trust in God, question everyone else)
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To: EGPWS

Exactly. If he had said little positive impact I would agree. It has had MAJOR negative impact.


3 posted on 06/30/2011 2:33:51 PM PDT by cableguymn
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To: cableguymn

Yep. It has pushed the Fed into a liquidity trap of their own making. They’re serious enough one would want to avoid them... but nooooo... Bennie doubled down.


4 posted on 06/30/2011 2:35:49 PM PDT by NVDave
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To: cableguymn

Yeah, scaring nearly every business outside of the Fortune 500 sh#tless seems a pretty large impact to me.


5 posted on 06/30/2011 2:36:51 PM PDT by GunningForTheBuddha (Bachman/West :: West/Bachman : whatever order I'd vote for them)
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To: Qbert

It was the biggest slush fund in world history courtesy of the US taxpayer.


6 posted on 06/30/2011 2:39:19 PM PDT by Sax
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To: Qbert

Where did the money go? Republicans should demand a full accounting of every dollar and how it was spent.


7 posted on 06/30/2011 2:39:46 PM PDT by jersey117
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To: EGPWS

Little impact?

Tell that to the Chinese!


Quote of the day.
I hope the next President or the one after him - until we get one who will return our exported factories. Without this seed corn we can’t grow the economy to where it used to be.


8 posted on 06/30/2011 2:40:03 PM PDT by ex-snook ("Above all things, truth beareth away the victory")
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To: Qbert

Wrong! It had a big impact on debt! Just like everything 0zer0 does, the country is worse off.

0bamanomics = Economics + Moronics
0zer0care = Socialized Euthanasia Healthcare
0zer0energy = Kill Drill
0zer0immigration = Free AK-47 to all Mexican Drug Gang Bangers
0zer0doctrine = Humanitarian Air Strikes


9 posted on 06/30/2011 2:41:55 PM PDT by SDShack (0zer0care = "The Final Solution" - Socialized Soylent Green Healthcare)
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To: Qbert

Drink! UNEXPECTED stimulus had no impact.

The Benank tried to play it cute, paying banks 3% to keep their bailouts rather than loan them out. A massive non-ponzi ponzi scheme that bailed out his banker friends. Where to hide when TSHTF.


10 posted on 06/30/2011 2:44:46 PM PDT by DaxtonBrown (HARRY: Money Mob & Influence (See my Expose on Reid on amazon.com written by me!))
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To: Qbert

Has MSNBC’s Andrea Mitchell filed for divorce yet?


11 posted on 06/30/2011 2:46:06 PM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: Qbert

Follow the money and it’s obvious what it was intended to do; payoffs on an unprecedented scale.


12 posted on 06/30/2011 2:46:21 PM PDT by Spok
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To: Qbert

It likely had a major negative effect, like government spending usually does


13 posted on 06/30/2011 2:47:28 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: jersey117

“Where did the money go?”

A fair amount went into artificially pumping up the stock market, so that Obama’s hedge fund buddies could make theirs and funnel it back to him for campaign donations.


14 posted on 06/30/2011 2:50:11 PM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Qbert
It needs to be even BIGGER!!!
15 posted on 06/30/2011 2:50:48 PM PDT by McKayopectate
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To: Qbert

Go figure.

The boat was sinking, so we made another hole, and shazam, we’re still sinking.

Those Ivy Leaguers surely are the smartest people in the room.


16 posted on 06/30/2011 2:52:42 PM PDT by lurk
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To: Qbert

Is this “unexpected” also?


17 posted on 06/30/2011 3:01:10 PM PDT by ConservativeDude
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To: Qbert

Anyone who’s taken Economics 101 and stayed awake in class could have predicted these results (and I did). Guess Bernanke was asleep that day.


18 posted on 06/30/2011 3:02:43 PM PDT by Da Bilge Troll (Defeatism is not a winning strategy!)
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To: Qbert

Fed’s Massive Stimulus Had Little Impact: Greenspan

No kidding... thanks for the info, you senile dumba$$.


19 posted on 06/30/2011 3:03:03 PM PDT by Common Sense 101
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To: Qbert
Fed's Massive Stimulus Had Little Impact: Greenspan

Is Greenspan a joke?

OF COURSE, the "Fed's massive stimulus program had little impact on the US economy" - - that was never it's purpose. It was never anything more than a political slush fund for bailing out municipal and union pension funds from the beginning. Greenspan is just figuring this out now? Wow. What a maroon.

20 posted on 06/30/2011 3:05:21 PM PDT by Lancey Howard
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