Fenton
DP Veteran
- Joined
- Nov 17, 2012
- Messages
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- Conservative
Here, here. You are presenting a position that is remarkable. Conservatives were previously arguing that raising the money stock would be inflationary and, therefore, the QE program was a failure because it will cause high inflation. Now, since QE did not cause high inflation, you make the exact opposite argument -- QE is a failure because it did not cause inflation.
If one is claiming that the middle class is shrinking and it is due to Obama policies, which policies might those be? What has happened over the last three decades in growing income inequality, with more and more income concentrated into the top class, which means less is available below. The latest data shows that "Average, or mean, pretax income for the wealthiest 10% of U.S. families rose 10% in 2013 from 2010, but families in the bottom 40% saw their average inflation-adjusted income decline over that period, according to the Fed's Survey of Consumer Finances, which is conducted every three years." Obama didn't cause that. That is the legacy of rolling back taxes on the rich going back to the Reagan years and made worse under Bush.
Well Conservatives AND Ben Bernanke.
He sold QE on the basis it would be inflationary.
Monetary Stimulus wherever its implemented is supposed to be inflationary.
But a continued horrible economy keeps that inflation in check.