At first blush it makes one wonder why all the Central Banks in the world don’t just do what Bernanke did, buy government bonds. It would appear that now anyone can do this, how did the Central Bankers miss this easy ploy over the past 100 years.
I suspect however, that the reason that the FED got away with it for the past few years, and why all the other Central Bankers are piling on, is that we are in a Global Depression which governments are unwilling to fix through structural changes. So if nothing is working, doing more of it does nothing, so hey, no consequences are appearing.
Leave a Reply