Right on top of my German musings yesterday, you get the US story in full from Hoisington. This sentence at the very beginning gives kind of lead into the subject:
If the objectives of Quantitative Easing 2 (QE2) were to: a) raise interest rates; b) slow economic growth; c) encourage speculation, and d) eviscerate the standard of living of the average American family, then it has been enormously successful.
So, it is worth considering to read the paper in full.
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