Professor Alan Meltzer explains the increasingly obvious complete failure of QE policy.In the main QE has simply boosted bank deposits. This has turned the banking system into the biggest hedge fund the world has ever seen and enormous market distortions and bubbles while starving the real economy. The civilian employment to population ratio has remained flat for the last 5 years.
Dollars Distort Our Understanding of Wealth
Most investors measure wealth in dollars — but what if the ruler itself is shrinking? Since 2000, the S&P 500 is up nearly 5x in dollar terms, yet priced in
