Calling all armchair & real economists:
What are your thoughts on quantitative easing and the state of the US Dollar?
Oversimplified summary: the Fed doesn't control as much of it as you think.
(Completely armchair economist here)
Quantitative easing was the right policy at the time, but should have been supplemented by a major regulation push and protection of the individual debtors.
Serious Glass-Steagal regulations should have been put into place and banks and financial firms reigned in, both in Europe and in the USA.
US Dollar supply should have been allowed to go slowly done once situation was a bit more stable.
@alec It feels quite inexplicable how things aren't more different, e.g. massive inflation, or some fundamentally different concept of currency. Before QE, the idea that the value of a dollar = roughly the value of the economy/wealth divided by number of dollars seemed reasonable. Now it feels obviously naive.
@alec Further, I find it inexplicable how NOT often QE is referenced as either (a) a major contributor to wealth inequality, or (b) a massive expansion of "trickle down economics." Tax cuts get huge headlines and hand wringing, meanwhile...
Mastodon instance for attendees of Refactor Camp, and members of various online/offline groups that have grown out of it. Related local groups with varying levels of activity exist in the Bay Area, New York, Chicago, and Austin.
Kinda/sorta sponsored by the Ribbonfarm Blogamatic Universe.
If you already know a few people in this neck of the woods, try and pick a handle they'll recognize when you sign up. Please note that the registration confirmation email may end up in your spam folder, so check there. It should come from administrator Zach Faddis.