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Source link: http://archive.mises.org/14626/quantitative-easing-explained/

Quantitative Easing Explained

November 13, 2010 by


Christopher November 13, 2010 at 12:34 pm

He he.. “The Ben Bernank” “The Goldman Sachs”


Ryan November 13, 2010 at 12:54 pm

Hahahaha! I love it. Three cheers.

Seattle November 13, 2010 at 2:30 pm

I don’t think it’s intellectually healthy to concentrate on the fed’s motives rather than their arguments. I think everyone here knows the argument for quantitative easing isn’t as simple as “Low prices bad! High prices good!”

Of course, yet another keynesian refutation wouldn’t have been nearly as fun.

J. Murray November 13, 2010 at 6:20 pm

Most people don’t respond to policy rebuttals but to creating phantom motives and attacking them.

Seattle November 13, 2010 at 8:20 pm

Two wrongs don’t make a right.

Matthew Swaringen November 14, 2010 at 1:37 pm

Are these really phantom motives though? Is the information not correct? Is the head of the New York fed not a former Sachs employee and is QE not going to involve purchases of bonds from Sachs to their own profit? At the very least this creates the appearance of a conflict of interest. Perhaps the motive really is some altruistic nature seeking to increase lending for most in the Fed. But there are almost some people in this structure who really understand that it’s not helping people.

Seattle November 15, 2010 at 1:39 am

We have electricity because power plants want our money. Therefore, having electricity is a bad thing.

We economists, of all people, should understand motives mean jack. An action can only be judged by its consequences. I certainly agree the fed’s actions are motivated by some quite unsavory goals. I also agree QE2 is a very horrible, dangerous thing. But the former does not imply the latter.

Ray Rock November 13, 2010 at 5:19 pm

A great skit.

The government introduced an alternate inflation reality when it enacted the findings of the Boskin Commission. They used pseudo-science to make inflation appear less than it really is so they could cut Social Security benefits without people noticing.

The disconnect we’re seeing today is the result of years of using skewed inflation data.

Not only are Bernanke and company going in the wrong direction they’re using the CPI data a if it were factual. So they’re doing the wrong thing and using bad data to justify it.

SEO June 29, 2011 at 2:02 am

it’s an old practice within ‘governments’ that usually leads to bigger disaster….anyway they are appointed only for few years, or less, and don’t really care what will happen in few years time…

michael pacifico November 13, 2010 at 6:22 pm

there are many people just now getting exposed to Austrian Eco, the majority of which would benefit greatly by more of these simple, effective, 5 min clips, so easy for the beginners to understand….thnx

King George November 13, 2010 at 6:26 pm

Nice vids… If only it wasn’t for that awful voice-gen…

J. Murray November 13, 2010 at 6:26 pm

I was irritated by it. That text-to-voice thing is too annoying to listen to.

Seattle November 13, 2010 at 8:24 pm

I love the deadpan, emotionless voices. The key to making them humorous is to revel in how awkward they sound. An easy way to do this is to make their speech “inflated” and far from the usual conversational speech.

I’m surprised I’ve never seen a voice-rendering program that supports IPA; Supersegmentals could handle these problems perfectly.

Marc Sheffner November 13, 2010 at 8:34 pm

there are many people just now getting exposed to Austrian Eco, the majority of which would benefit greatly by more of these simple, effective, 5 min clips, so easy for the beginners to understand….thnx Hear, hear, michael pacifico.

I first saw this 18 hours ago. It had 15,000 or so hits. I posted it to my blog a few hours later, by which time it was up to 44,000 or so. Now, not yet 24 hours later, it’s up to 89,000. C’mon, guys, can we get it up to 600 billion? How ’bout 2 trillion? Repeat after me: “Deficits don’t matter and yes we can.”

Marc Sheffner November 13, 2010 at 8:42 pm

Tech question: can anyone suggest why I can post a comment here via IE8, but not when using my preferred Firefox 3.6.12 (both for windoze)? I’ve noticed this just recently, since Firefox upgraded itself. I also couldn’t post a comment to another blog last night.

Seattle November 13, 2010 at 8:57 pm

I can do so just fine. Have you tried a fresh profile?

Marc Sheffner November 13, 2010 at 9:37 pm

How do I do that?

Seattle November 13, 2010 at 11:28 pm
Marc Sheffner November 14, 2010 at 4:28 am

If this works, many thanks to Seattle

Slim934 November 14, 2010 at 5:01 pm

“maybe because he has a nice beard”


Jeff November 27, 2010 at 10:12 pm

This was great. I’m not an economist but I do have an interest in economics and this really hit the spot. Humerus and informative. Kudos to whomever produced it.

I Love You Quotes September 14, 2011 at 12:12 am

Wonderful. 4 chears.

aydin October 20, 2011 at 3:53 pm

There are a lot of myths out there. This is easily one of the most useful articles I’ve read this year. Thanks for writing this post.

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