Let’s Get This Straight
So, what the World Bank is saying, is that banks basically need to be continuously supported by quantitative easing by the Fed, in order to continuously post ever increasing profits for themselves, while the economy itself (as far as you and I are concerned) languishes for their cheap, easy and low risk excesses?
It’s possible that I don’t have an accurate understanding of what quantitative easing is or what it actually does (assuming that there are many people out there who do understand what this kind of mathematical, economic hoodoo is, in practice).
But doesn’t this just mean that I, the tax payer, am once again just bankrolling the excessive, cheap, low risk, low value profits of the big banks, in a vain effort to try to get them to lend out and invest money into the economy?
How is any of this helping the economy, other than by making big numbers on the bankers’ ledgers?
If someone actually understands this better, than I sincerely hope they can straighten out my comprehension of this.
Cause, as of this moment, it just looks to me like my money, in the form of long term government bonds, is being used to, once again, be used in the casino-like, low value money markets for the sake of a few bank’s big profit margins.
Even Adam Smith would call such an arrangement to be of low value to the economy and, more importantly to him, at least, to the society as a whole, and destructive to the human society that we all depend on.
I don’t know what brand of economics is being used by these people.
But whatever it is, it doesn’t seem actually able to provide for the well being of our social, environmental and economic worlds.
And that, ladies and gentlemen, is how you get the destruction of a social and ecological world.
Think about it.