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 ...
Tell that to the Chinese!
Exactly. If he had said little positive impact I would agree. It has had MAJOR negative impact.
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.
Yeah, scaring nearly every business outside of the Fortune 500 sh#tless seems a pretty large impact to me.
It was the biggest slush fund in world history courtesy of the US taxpayer.
Where did the money go? Republicans should demand a full accounting of every dollar and how it was spent.
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.
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
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.
Has MSNBC’s Andrea Mitchell filed for divorce yet?
Follow the money and it’s obvious what it was intended to do; payoffs on an unprecedented scale.
It likely had a major negative effect, like government spending usually does
“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.
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.
Is this “unexpected” also?
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.
Fed’s Massive Stimulus Had Little Impact: Greenspan
No kidding... thanks for the info, you senile dumba$$.
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.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.