Quantitative Easing QE2 and the Looming Threat of a Crippling Debt Service

Economics / Global Debt Crisis
Nov 20, 2010 - 12:03 PM

By: Ellen_Brown

The deficit hawks are circling, hovering over QE2, calling it just another inflationary bank bailout. But unlike QE1, QE2 is not about saving the banks. It’s about funding the federal deficit without increasing the interest tab, something that may be necessary in this gridlocked political climate just to keep the government functioning.

On November 15, the Wall Street Journal published an open letter to Fed Chairman Ben Bernanke from 23 noted economists, professors and fund managers, urging him to abandon his new “quantitative easingâ€