The View From 1776

The Fed’s QE2 Fails To Deliver Promised Results

Forewarnings by critics of Mr. Bernanke’s current fiat money expansion program have been closer to target than Mr. Bernanke’s expectations.

Monetary inflation’s effects under QE2 are becoming more evident; interest rates are up, not down; and bank lending continues to decline.

QE2’s principal effect has been a booming stock market that again fabulously enriches Wall Street traders and brokers.  As I wrote last November:

Note that it