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American Consumer Desperately Needs Interest Income

Thursday, March 29, 2012 - 5:33 AM
Stephen Roach, a professor at Yale University and former non-executive chairman for Morgan Stanley Asia, talks about the economy and the Fed in this Bloomberg interview. At 3:25 into the video, Roach talks about financial repression of the Fed:
The theory of the fed is to keep lending rates down keep funding rates down because banks will do the work. I think they are forgetting about the 71% of the economy which is the American consumer who desperately needs spending power and interest income.

Hat tip to the reader who emailed me news of this video.
10
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
1. Thursday, March 29, 2012 - 9:16 AM
Yes they do and I guess "this" group is taking no responsibility for making their voices heard as a "unit".  Too bad.  I had better hopes that we might have at least followed through on our group concern.
6
ApacheApache43 posts since
Dec 5, 2011
Rep Points: 565
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