"Just as Keynes warned would happen, Bernanke has found himself pushing on a string. No matter how much liquidity the Fed pumps into the economy, it doesn't seem to make much difference. With mortgage rates well below 4%, the housing market remains depressed. With borrowing costs at record lows, corporations sit on cash and refuse to invest in plant and equipment. In circumstances such as these, an expansionary monetary policy doesn't necessarily ensure a vigorous recovery. That is why modern Keynesians, of whom Bernanke is one, also favor fiscal stimulus."
http://finance.fortune.cnn.com/2012/06/28/bernanke-trapped/?iid=HP_LN full story
The ADM claims it has saved or created 3 MILLION jobs in 4 years, at a cost of over $2 TRILLION in Govt and FED actions, the cost oer job is around $800,000 !!!
Was it worth it? Of course not, it's a waste of our resources and hasn't help grow the economy much.
EUROPE seems to be hanging by a thread, is this the time to be complacent?
D
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