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QE Whistleblower Warns “We Are Eerily Similar To 2008″
Posted By admin On November 14, 2013 @ 5:54 am In Money Watch | Comments Disabled
Zero Hedge 
November 14, 2013
Following his inconvenient truthiness yesterday, Andrew Huszar appeared  on Bloomberg TV today (having dismissed the comic-book-written discussion he faced in CNBC’s Fast Money yesterday). As usual Bloomberg gave him more time to speak, listened, and challenged some of what he said, but we were struck by the man-who-ran-the-Fed’s-mortgage-book’s points that “we are eerily similar to 2008.” Simply put, he implores, “the structure of our economy has not changed,” and his apology (on behalf of the Fed), is because the Fed “helped squander an opportunity to see change in America.” The fact of the matter, this was folly, “The Fed does not have the ttols to help the economy.”
What else could Bernanke have done?
QE1 at the time was defensible… but as we progressed, very quickly we began to see it was not working
So why wasn’t a decision made then to change course?
That’s a very good question and why I felt compelled to write this apology to America…
This was a program that was devised to help mortgage lending in America… mortgage lending decreased in that time…
Instead what we saw was massive Wall Street earnings
When should the Fed have stopped?
The Fed should have stopped after QE1 - when it was clear it wasn’t working – instead it has bought $2.5 trillion more bonds and put itself in a position where the exit is very uncertain…
Ultimately the tools [the Fed] has at its disposal don’t work, and what it has done instead is enable a “crisis-driven” political system
Must-watch follow-up to his Op-Ed…  Ensure you listen to the last 60 seconds… “What the US needs is reform and change – not more easy money.”
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URL to article: http://www.prisonplanet.com/qe-whistleblower-warns-we-are-eerily-similar-to-2008.html
URLs in this post:
 Zero Hedge: http://www.zerohedge.com/news/2013-11-13/qe-whistleblower-warns-we-are-eerily-similar-2008
 inconvenient truthiness yesterday, Andrew Huszar appeared: http://www.zerohedge.com/news/2013-11-12/former-fed-quantitative-easer-confesses-aplogizes-i-can-only-say-im-sorry-america
 Climate Similar to the 1800s Within the Next 15 Years: First Stage of Global Cooling During 2008/09: http://www.prisonplanet.com/climate-similar-to-the-1800s-within-the-next-15-years-first-stage-of-global-cooling-during-200809.html
 BofA Warns Upcoming “Desperate Measures” By Authorities Will Result In Another 2008 Market Collapse: http://www.prisonplanet.com/bofa-warns-upcoming-desperate-measures-by-authorities-will-result-in-another-2008-market-collapse.html
 Stockman Warns of Crash Of Fed-Fueled Bubble Economy: http://www.prisonplanet.com/stockman-warns-of-crash-of-fed-fueled-bubble-economy.html
 Former Hitler Youth Whistleblower Warns Of America’s Nazi Future: http://www.prisonplanet.com/former-hitler-youth-whistleblower-warns-of-americas-nazi-future.html
 Dollar Set for Biggest Monthly Loss Since 2008 Versus Euro on U.S. Economy: http://www.prisonplanet.com/dollar-set-for-biggest-monthly-loss-since-2008-versus-euro-on-u-s-economy.html
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