Attributes of The Lords of Easy Money PDF
If you asked most people what forces led to today’s unprecedented income inequality and financial crashes, no one would say the Federal Reserve. For most of its history, the Fed has enjoyed the fawning adoration of the press. When the economy grew, it was credited to the Fed. When the economy imploded in 2008, the Fed got credit for rescuing us. The Lords of Easy Money PDF
But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway…and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months.
Which 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, and this debt is being traded by big banks on Wall Street, leaving them vulnerable—just as they were during the mortgage boom. Middle-class wages have barely budged in a decade, and consumers are buried under credit card debt, car loan debt, and student debt.
The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This will be the first inside story of how we really got here—and why we face a frightening future.
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Illustrations of The Lords of Easy Money PDF
This book The Lords of Easy Money PDF is one of the most trusted and renowned book for the subject of politics and social sciences by some of the leading teachers and professors around the world as it has the qualities to enhance the thinking and knowledge of how the world works around politics and socialism. It is a must read for anyone who aspires to teach themselves and all others around them about how this world of today and in the past worked and how they can create an impact on the future.
Christopher Leonard is a business reporter whose work has appeared in The New York Times, The Wall Street Journal, Fortune, and Bloomberg Businessweek. He is the New York Times bestselling author of The Meat Racket and Kochland, which won the J. Anthony Lukas Work-in-Progress Award.
Proportions of The Lords of Easy Money PDF
- Publisher : Simon & Schuster (January 11, 2022)
- Language : English
- Hardcover : 384 pages
- International Standard Book Number-10 : 1982166630
- International Standard Book Number-13 : 978-1982166632
- Item Weight : 1.26 pounds
- Dimensions : 6 x 1.2 x 9 inches
Reviews From Customers
“A fascinating page-turner….There’s something undeniably gratifying about an elegantly crafted morality tale — and the business reporter Christopher Leonard has written a good one….A fascinating and propulsive story about the Federal Reserve — yes, you read that right. Leonard, in the tradition of Michael Lewis, has taken an arcane subject, rife with the risk of incomprehensibility (or boredom), and built a riveting narrative in which the stakes couldn’t be any clearer.”– The New York Times
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