“Bernanke’s Raid on the Middle Class” – James Bacon
“Twenty-four conservative economists and writers have published an open letter calling upon the Federal Reserve to abandon a second round of “quantitative easement” that entails borrowing another $600 billion in U.S. Treasury bonds. “The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed’s objective of promoting employment,” says the statement under the name of Economic Policies for the 21st Century.
The economists are hardly alone in their thinking. The Fed’s plan has been excoriated abroad, the financial blogosphere is seething with negative reviews, and Republican congressmen are jumping on the bandwagon. But their appeal may fall flat.
The plan, the economists say, “risks” currency debasement and inflation.” Read more.
“Bernanke’s Raid on the Middle Class”
James A. Bacon
The Washington Times, November 22, 2010.
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