Free Money For Everybody . . . Except You
The Federal Reserve moved Wednesday with other major central banks to buttress the financial system by increasing the availability of dollars outside the United States, reflecting growing concern about the fallout of the European debt crisis.
The banks announced that they would reduce by roughly half the cost of an existing program under which banks in foreign countries can borrow dollars from their own central banks, which in turn get those dollars from the Fed.
I support this policy, but think that spreading the free money around to the "little people" is just as important. Also too, fiscal stimulus.
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