Paul Craig Roberts: The Case of the Missing Recovery

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“What the Treasury and Federal Reserve have done, with the complicity of the White House, Congress, economists, and the media, is to focus on rescuing a half dozen banks ‘too big to fail.’ The consequence of focusing economic policy on saving the banks is rigged financial markets and massive stock and bond market bubbles. To protect the dollar’s exchange value from quantitative easing, the price of gold has been forced down in the paper futures market, with the consequence that physical gold is shipped to Asia where it is unavailable as a refuge for Americans faced with currency depreciation. It remains to be seen whether the chickens can be kept from coming home to roost.”

http://www.paulcraigroberts.org/2014/01/03/case-missing-recovery-paul-craig-roberts/

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