No. of Recommendations: 1
flood of monetary stimulus acted like crack cocaine. The intent was to stimulate the economy but the actual beneficiary was the financial markets
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and the Fed had to that because Congress, after a crucial fiercely combatted and negotiated fiscal stimulus, then went into deadlock with White House and fiscal stimulus was dead.


Did not the European countries also rely on fiscal stimulus? IIRC, Euro interest rates are still at all-time lows. Did they also have gridlocked government?

On a side note, the Japanese government relied on massive infrastructure spending to try and recovery from their 1990 crash. For whatever reasons, they still lost a couple of decades of economic growth.

DB2
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