Economics theory 1A/1B
History - S&L crisis, Great Recessions GRs I, and Great Recessions GRs II
The Fed - protecting us from deflation and affordable housing
- Fed accounting
Miscellaneous additional recommendations
Sources and Footnotes
The American economy is once again a bubble intentionally created by our plutocrats and their cronies. Our plutocrats are the flesh and blood people who own and operate our large corporations including banks. Corporate welfare is plutocrat welfare; corporatism is plutocracy. Our plutocrats want the instability that comes with bubbles to create opportunities for extraordinary profits. Normal profits from a job creating, sustainable, stable economy are simply insufficient. The Fed was created by our plutocrats not to provide stability but to facilitate and manage instability. The Fed now has 2.5 trillion in a money creation account hidden in excess reserve deposits. This magic money was/is used to purchase long term LT securities to keep LT interest rates artificially low and thereby facilitate the creation of another bubble economy.
Unnaturally low interest rates over extended periods negatively affect other areas not normally considered. Lower returns have contributed to growing deficits in our pension funds. Lower returns on insurance company investments have likely increased our insurance premiums. Low interest rates have encouraged our excessive borrowing"