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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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To: Qbert
But it sure was fun throwing all that dough around.
21
posted on
06/30/2011 3:15:24 PM PDT
by
screaminsunshine
(Socialism...Easier said than done.)
To: Qbert
Greenspan has always said there would never be another depression because we have too many controls.
He's really embarrassing Geither....the little weasel...in fact they all look like little weasels.
To: lurk
The boat was sinking, so we made another hole, and shazam, we’re still sinking.Back in the Carter years, this analogy was going around. It seems apt here: "The Ship of State is awash in fiat currency and the crew is using the rudder for a paddle."
23
posted on
06/30/2011 3:36:36 PM PDT
by
Oatka
("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
To: Qbert
Eliminate the FED. Jail Bernanke.
24
posted on
06/30/2011 3:37:42 PM PDT
by
PGalt
To: Common Sense 101
No kidding... thanks for the info, you senile dumba$$.Well-stated.
25
posted on
06/30/2011 3:39:08 PM PDT
by
PGalt
To: Qbert
other than adding to our crushing debt you mean...
26
posted on
06/30/2011 3:45:22 PM PDT
by
Chode
(American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
To: Qbert
A trillion wasted dollars is no impact? I guess this is a WTF moment.
27
posted on
06/30/2011 3:49:12 PM PDT
by
Typical_Whitey
(Ask a liberal to explain how tax increases create jobs in America)
To: Qbert
The Federal Reserve's massive stimulus program had little impact on the US economy besides weakening the dollar and helping US exports
Well, it also got us $2 trillion closer to the eventual default, so there's that.
To: Qbert
Time for a White House pinata party!
29
posted on
06/30/2011 4:03:42 PM PDT
by
jetson
To: NVDave
You and a few others here called it before the fact.
30
posted on
06/30/2011 4:16:53 PM PDT
by
Freedom_Is_Not_Free
(SP12: They called Reagan "unelectable", too.)
To: Qbert
Bingo, the majority of it went into the stock market. Shows how little they know, the average american does not give a damn about the stock market and could care ever less about it, it has nothing to do with them.
To: Qbert
My God! The pot calling the kettle black.
This jerkoff instigated and covered up both the dot com bubble and the housing bubble along with their associated recessions and he thinks he has any right to be critical? Check yourself into the nearest mental institution since you, Sir, are an idiot.
32
posted on
06/30/2011 5:31:30 PM PDT
by
cashless
(Unlike Obama and his supporters, I'd rather be a TEA BAGGER thaln a TEA BAGGEE.)
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