Fed's Massive Stimulus Had Little Impact: Greenspan

[mandym]

"There is no evidence that huge inflow of money into the system basically worked," Greenspan said in a live interview.

"It obviously had some effect on the exchange rate and the exchange rate was a critical issue in export expansion," he said. "Aside from that, I am ill-aware of anything that really worked. Not only QE2 but QE1."



http://www.cnbc.com/id/43598606

 

[exscentric]

And some are saying another is coming soon. Of course IT will work.

 

[InTheLight]

"There is no evidence that huge inflow of money into the system basically worked," Greenspan said in a live interview.

"It obviously had some effect on the exchange rate and the exchange rate was a critical issue in export expansion," he said. "Aside from that, I am ill-aware of anything that really worked. Not only QE2 but QE1."


http://www.cnbc.com/id/43598606

There is a county road a few miles from my house that is being repaved--for the third time in 10 years. I call it 'make work.'

Signs are prominently posted proclaiming:

Funding provided by the American Recovery and Reinvestment Act of 2009.

 

[billwald]

Studded tires legal in your state? Around here 3 years is enough to destroy a freeway where traffic is heavy. Cars with rubber tires couldn't wear out a freeway in 10,000 years.