Bruce Yandle's The Economic Situation - December 2010 - Would eagles swap security for freedom?
The Economic Situation
- What to expect from quantitative easing?
- Ireland, Greece and Euro-zone survival.
- On turning the corner and looking ahead.
- Housing and construction are resting at the bottom.
- Oil and gold.
- Looking ahead.
- Final thoughts.
Mr. Bernanke’s announced plan to inject $600 billion in new money into the economy across the next six months brought loud criticism from some of our key trading partners and lenders and reactions of shock from some who see the Fed as the protector of the wealth of the nation. Some of our trading partners and creditors saw the described domestic policy move as a disguised effort to devalue the dollar and thereby gain market share in world trade. Those holding vast amounts of dollar debt saw the move as a way to restructure loans by paying them off with printing press money and without their permission.