Responses to previous instalments of my “Economic Perspectives” include queries on why unbridled credit expansion by the main central banks in USA, UK, EU and Japan does not appear to be reflected in a commensurate rise in the general price level, affecting all sectors of the economy.
Central bankers continue to “stimulate” growth by applying the twin practices of quantitative easing (QE) and lowering interest rates. It’s clear that these policies simply don’t work – but the real surprise is that they continue to persist with them, and do not give up.
Prof. Stiglitz on who should really take the blame for the financial crisis.
A former Wall Street trader discusses the risks of interest rates.