US 'Quantitative Easing' is Fracturing the Global Economy

Bard College Levy Economics Institute Working Paper No. 639

20 Pages Posted: 24 Nov 2010

See all articles by Michael Hudson

Michael Hudson

University of Missouri at Kansas City - Department of Economics ; Bard College - The Levy Economics Institute

Date Written: November 23, 2010

Abstract

The Federal Reserve’s quantitative easing is presented as injecting $600 billion into “the economy.” But instead of getting banks lending to Americans again - households and firms - the money is going abroad, through arbitrage interest-rate speculation, currency speculation, and capital flight. No wonder foreign economies are protesting, as their currencies are being pushed up.

Keywords: Exchange Rates, Asset-Price Inflation, Monetary Policy

JEL Classification: E50, E58, F34, F42, G12

Suggested Citation

Hudson, Michael, US 'Quantitative Easing' is Fracturing the Global Economy (November 23, 2010). Bard College Levy Economics Institute Working Paper No. 639. Available at SSRN: https://ssrn.com/abstract=1713852 or http://dx.doi.org/10.2139/ssrn.1713852

Michael Hudson (Contact Author)

University of Missouri at Kansas City - Department of Economics ( email )

Bard College - The Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504
United States

Register to save articles to
your library

Register

Paper statistics

Downloads
1,038
Abstract Views
3,300
rank
20,109
PlumX Metrics