Not Even At the End of the Beginning

The worst isn’t over. Robert Reich edition.

Robert Reich’s Blog: Why We’re Not at the Beginning of the End, and Probably Not Even At the End of the Beginning

… But we’re not at the beginning of the end. I’m not even sure we’re at the end of the beginning. All of these pieces of upbeat news are connected by one fact: the flood of money the Fed has been releasing into the economy. Of course mortage rates are declining, mortgage orginations are surging, and people and companies are borrowing more. So much money is sloshing around the economy that its price is bound to drop. And cheap money is bound to induce some borrowing. The real question is whether this means an economic turnaround. The answer is it doesn’t. …

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