The lull is almost over. Now what?
I don’t need to tell the savvy readership of Jan Morgan Media that this economic “recovery” has been a combination of smoke and mirrors, held together with a shoestring and bubble gum. The plummeting economy, triggered by the collapse of our government-inflated housing bubble, was temporarily slowed in its break-neck decline by the Obama administration’s decision to shovel astronomic amounts of taxpayer money into a hole. In June 2010, after the first round of Quantitative Easing, the Fed had holdings of $2.054 trillion. In November 2010, deciding that things weren’t improving fast enough, QE2 was launched and we bought up another $600 billion of assets/debt. When that failed to stimulate the market into a full-on recovery, QE3 was announced in September of 2012. At that point, the Fed declared that they would be buying $40 billion/month for an open-ended duration.
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