After the financial crisis entered its most acute phase following the
demise of Lehman Brothers in October 2008, central banks around the
world - led by the US Federal Reserve - began a program of Quantitative
Easing. QE -- whereby a central bank buys private-sector assets with
newly printed reserve money -- is said to have helped overcome the
financial crisis. The question is... at what cost? Writer and blogger
Gonzalo Lira believes that the cost of ultra-easy monetary policy is
high - and could be the demise of the US dollar.
Cullen Roche is
the founding president of Orcam Financial Group and the brains behind
noted financial blog "Pragmatic Capitalism." He is also a co-founder of
a new school of economics called "Monetary Realism." Cullen has made
it his mission to demystify the modern monetary system and deliver it to
the public in layman's terms. In a recent blog post, he wrote about
what he calls, "The Biggest Myths in Economics. And we speak with him
about just that!
Boom Bust's Erin and Edward talk about many of
the top Wall Street bankers whose firms were largely responsible for the
recent financial crisis. In 2008, the US government began to step in,
pumping $700 billion in bailout funds into the market in order to
prevent catastrophe and save the companies. But many of the top bankers
are now unemployed... yet apparently they are all still living a"
Lifestyles of the Rich and Famous."
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