The government ran up $8 trillion in debt prior to 2008 with no help from the FED. If irresponsible congressmen want to spend, they’re going to spend FED or no FED.
The FED only got involved because unemployment soared, which is what they are supposed to do. That’s their legal mandate.
I call BS. Allowng FED intervention, and TARP was a serious mistake that amounted to kicking the can down the street.
The government, including the FED should have allowed the country to take its medicine like we should have back in '08. Then force an austerity program to right the ship.
The government ran up $8 trillion in debt prior to 2008 with no help from the FED.
That amounts to a debt of $8T for the first 235 years of this country. Well guess what in a short 5 years the FED has over doubled that and added another $9T. You might support Bungling Ben and his QE sideshow, but I for one think him, his boss Obummer, and our complicit congress are about to steer the train off the cliff.
The FED only got involved because unemployment soared, which is what they are supposed to do. That’s their legal mandate.
If that was the case why did Bungling Ben keep pumping the QE spigot after unemployement stablized (though high) in the '09-'10 timeframe?