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Recommend "Mike Whitney" - The Big Shakedown -- Bernanke's Boondoggle (Email)

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http://counterpunch.com/whitney04252011.html

By MIKE WHITNEY

The New York Times is bit late to the party but, better late than never, right?

Times economics writer Binyamin Applebaum has just discovered that the Fed's bond buying program--aka QE2--has lit a firecracker under stocks but done zilch for the real economy. Applebaum--who apparently never trolls the econo-blogs to expand his understanding of what's going on in the world of finance-- is "shocked" that Bernanke's $600 billion "credit easing" strategy has turned out to be an utter boondoggle that's had no measurable impact on output, unemployment or growth. Who could've known? But let's allow Applebaum to speak for himself:


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