Interesting Saturday morning read.
Ironically, the Fed has admitted from get-go that the purpose of QE and ZIRP was to inflate asset prices, particularly the bond and stock markets, enrich those who hold and speculate in them, bail out the banks by fattening up their balance sheets, and lend free money to hedge funds and private equity firms so that they could pile into the housing market and drive up home prices to the point where the middle class can no longer afford them.
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