Study of Economics: Central Banks

By Hugo Passemard

"Given the fundamental factors in place that should support the demand for housing, we believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited". These are the exact words from former Federal Reserve Chairman Ben Bernanke soon before the subprime loans caused the housing market to crash. Did you know that in a 107 years the fed reserve has never been accurate regarding its forecast? Who forgot what happened to Japan in 1991 when it's financial bubble crashed? Bubble caused by its own central bank, the bank of Japan In the words of Krugman: "Japan's banks lent more, with less regard for quality of the borrower, than anyone else's. In doing so they helped inflate the bubble economy to grotesque proportions". In 2018, the head of the New York Stock Exchange discussed about the composite's performance and was delighted to have such a strong stock market. What he forgot to mention are the six years of quantitative easing and the almost ten years without a rate bump from the federal reserve The present European debt crisis is yet another example of central bank deception. To create a public consensus for the need for structural reform by purposefully creating a recession and then needlessly prolonging it, must constitute an abuse of power. Do taxpayers really long to be lied to in such a fashion?

• Format: Paperback
• Language: English
• ISBN: 1715345177
• ISBN13: 9781715345174
• Release Date: October 2020
• Publisher: Blurb
• Length: 156 Pages
• Weight: 0.48 lbs.
• Dimensions: 0.3" x 6.0" x 9.0"