A Look at how Central Banks are Steering our Society off an Economic Cliff
Welcome to Capital Account. With debt troubles brewing in Spain, a European Central Banker is triggering talk of ECB intervention…again…So now people are speculating about another bond purchase program to lower Spain's borrowing costs. Oh geez – how much more money will be conjured out of thin air and pumped into Europe's cesspool to make things "look" stable?? We'll talk about the cost of all this easy money with economist and chairman of the Ludwig von Mises Institution, Lew Rockwell.
On that note, the Fed's Beige Book came out today and people are looking at the data for any signs of weakness that could trigger a renewed quantitative easing (QE3 this time) conversation. We'll talk about the perpetual nonstop debate where everything economic seems to rest on whether there will or won't be more money printing. How long can this nightmare continue??
And is Bank of America suing itself? That's sure what it looks like! Is this how big our too big to fail banks have gotten, where they start to eat into their own profits, or is this just an accounting gimmick meant to pad the pockets of top executives? We'll talk about this latest absurdity of the foreclosure mess in our segment of Loose Change.