My best take on that is the failures of Keynesian economics, and the fact that the left, constantly enacting economic growth crushing, marxist wealth redistribution class warfare schemes and scams, soul sucking legislation and policies, by fiat these days, has decided that the cure for the damage these ludicrous divide & conquer opportunities to waste and steal tax payer money cause, is to piss away even more tax payer money.
Federal Reserve Chair Janet Yellen made it clear she believes the economy still requires a strong dose of stimulus five years after the recession ended because unemployment and inflation are well short of the Fed’s goals.
“A high degree of monetary accommodation remains warranted,” Yellen said today in testimony to the Joint Economic Committee of Congress. “Many Americans who want a job are still unemployed,” and inflation is below the central bank’s 2 percent target, she said.
Yellen highlighted weaknesses in the labor market, such as the number of long-term unemployed, even as the economic outlook improves. The Treasury market yield curve steepened after her comments tempered expectations among some investors for a faster pace of interest-rate increases.
“She wants to reiterate that there are still challenges, we’re not out of the woods yet, and it’s too early to think about starting to remove accommodation,” said Michelle Meyer, a senior U.S. economist at Bank of America Corp. in New York. “She put the labor-market recovery in historical context, which is that there are still a lot of scars left from the incredibly deep recession.”
I wish these fucking retards would admit that these “challenges” are the direct results of their class warfare, wealth redistribution policies, the most damaging one right now, by orders of magnitude compared to the shit done to appease the AGW cultists by the EPA or the small business crushing regulations of Dodd-Frank that do nothing to prevent yet another such lending collapse, being Obamacare. So the damage caused by failed wealth redistribution policies and government, in general, pissing away billions, is to piss away more billions. It’s like nobody remembers the years after the 1929 crash, where similar Fed policy dragged out the recession for decades, until WWII saved the US economic bacon.
All that pumping by the Feds accomplishes is to delay the inevitable, while allowing the Feds to hide how economically ruinous the policies of the last 6 years have been. It creates an artificial sense of well-being by keeping the markets fooled and hiding inflationary effects. In the meantime the dollar keeps losing value, reflected in the fact that while the value our investments have supposedly gone up, the purchasing power has gone down, by more, and the national debt keeps growing by at least a billion each year. The obvious larding of the campaign coffers and personal bank accounts of various democrat politicians and their family members, their close and connected friends and interests, and any organization that helps benefit the hold of the democrats on power, however is taboo to mention. But there is an election to steal soon, and the democrats need as much cover as they can get before then. The cost to the tax payers or America in general, be damned.