The Fed Screws Up
The Federal Reserve Board’s decision to continue printing $85 billion a month to help banks lend more money will eventually have an adverse effect on the economy, says political pundit Dick Morris. “What’s emerging, is that the Federal Reserve Board is an enabling device for gambling on the stock market and gambling in derivatives,” he says. “Because the economy is so bad and people are so pessimistic about it, nobody’s asking for loans. So the cash sits there in the bank, and what the bankers do with it, is invest it in the stock market, which drives up the market.” Morris says that by printing the money, the Fed is destroying our economy, creating the perfect conditions for the next crash.
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