The Lords of Easy Money
The Federal Reserve’s Lords of Easy Money: How It Broke the American Economy. Written By Christopher Leonard and published By Simon & Schuster (January 11, 2022) in the English Language with item Weight is 1.18 pounds and Size is 6 X 1.2 X 9 Inches and 384 Pages.
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Summary The Lords of Easy Money
No one would blame the Federal Reserve if you asked most people what caused today’s enormous income inequality and financial crises. The Fed has been adored by the press for the most of its existence. The Fed was credited for the economy’s growth. When the economy collapsed in 2008, the Fed was credited with saving the country.
On the other hand, the Fed has the unique ability to transform the American economy for the worse, as it did on November 4, 2010, with a drastic intervention known as quantitative easing. The Fed more than doubled the money supply in only a few years with one purpose in mind.
The entice banks and other investors to extend more risky debt. The Fed’s leaders were well aware that they were embarking on a dangerous experiment that would yield few actual jobs and carry unquantifiable long-term risks. On the other hand, the Fed went ahead and did so…only to find itself trapped.
There was no way to get rid of all that money after it had been printed. The Fed attempted multiple times, but the markets began to tumble, prompting the Fed to intervene.
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This brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, stock prices are trading far above what?s justified by actual corporate profits, corporate debt in America is at an all-time high, Big banks on Wall Street are changing this debt, leaving them susceptible, just as they were during the mortgage boom.
Consumers are buried in credit card debt, car loan debt, and student loan debt, while middle-class salaries have scarcely moved in a decade.
Aurthor : The Lords of Easy Money: How the Federal Reserve Broke the American Economy
Christopher Leonard is a business journalist who has written for publications such as The New York Times, The Wall Street Journal, Fortune, and Bloomberg Businessweek. The author of The Meat Racket, a New York Times bestseller novel, and Kochland, which earned the J. Anthony Lukas Work-in-Progress Award.
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The Lords of Easy Money Details
|Book Name:||The Lords of Easy Money|
|Publisher:||Simon & Schuster|
|Release Date:||(January 11, 2022)|
|File Size: / Pages||384 pages|
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Conclusion: The Lords of Easy Money: How the Federal Reserve Broke the American Economy
Through the story of one guy who tried to warn us, The Lords of Easy Money recounts the frightening, gripping story of how quantitative easing is endangering the American economy. This will be the first inside look at how we got hereand why the future looks so bleak.
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