Wage issues for non elite workers is one of the tragedies of the millennium. Those workers can pull down the entire world economy by themselves. Nice article.

So bank funded investors have been fooled into thinking that the junkiest bonds are not so junky? Wow, that story played before. Amazing that the Fed probably thought all this structured finance was good risk. I wonder if they had their hand in the mispricing of this risk too, just like the subprime bonds back in 2008?

Some at alt-m blog have said the Fed can claw this money back. I hope they don't. But at least it gets the needed work done either way, Ellen. Nice article.

There is no money velocity now. It is time that congress stood up to the banks on this subject.

If it increases the money supply and helps growth I would be for it. After all, the Fed has run roughshod over America in pursuit of profits by the banks. I am amazed that congress forced this through, but they know what the Fed's game is.

Another fascinating article, John. I have two concerns for the world.

One is that electric cars make oil obsolete. That is what some futureists and probably all eugenicists want. They want oil people to be expendable.

Second is that Russia will force the hand of Saudi Arabia, since clearly, Saudi Arabia is doing this not just for economics, but to destroy Russia.

One could say economic warfare is war and can cause physical war. We hope that is not the result of all this.

Maybe they should use astrologers or tea leaves or a dart on a wall.

Lol, but if there is no credit available in five years.... Just wondering. Fun article.

The Fed has the economy in a comatose state. Whether another crash is coming or not, clearly this subversion is the Fed's doing, which is the only time I will ever agree with Pete.

Mish implied this job creation scheme was anti business. Looks like pro business to me.