How do you solve an economic crisis? PRINT MORE MONEY!

via Bloomberg:
The Federal Reserve cut the main U.S. interest rate to "a target range" of between zero and 0.25 percent and said it will do whatever is needed to end the longest recession in a quarter-century and revive credit.
Gee... for a recession that was just declared a recession, now it is "the longest in a quarter century."
"The Fed is sending a message that it will print money to an unlimited extent until it starts to see the economy expanding," William Poole, former president of the St. Louis Fed and now a senior fellow at the Cato Institute in Washington, said in an interview with Bloomberg Television.


Japan's central bank kept its main rate at zero from 2001 to 2006 while flooding the banking system with extra cash to encourage lending, spur growth and overcome deflation. The abundant funds failed to prompt lending by commercial banks, which expanded their reserves at the central bank almost nine times by early 2004.
When Clinton left office the deficit debt was around 5.7 trillion. It took a Bush to almost double it. There is still a month. UGH!


Here's a handy chart and evaluation about the presidents responsible for the National Debt. Let me clear my throat with all the red.

Economic Shakers to the front of the line! I am fighting a WAR of distraction.

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