What the Fed has done in the past two years has driven us deeper into debt, ... and since I think that is one of the issues ailing the economy now, I don't see going deeper into debt as a cure.
More Quotes from Paul Kasriel:
Since central banks aren't letting their currencies appreciate against the dollar, that implies that all the currencies will depreciate against gold and commodities in general.Paul Kasriel
measure of the financial deficit that households are running at an annualized rate.
Paul Kasriel
When you print money, it's going to inflate some asset price. Maybe we'll revert to the late 1990s and buy stocks with it.
Paul Kasriel
That, plus the fact that the Bank of Japan won't be buying as many Treasury and agency securities, will put upward pressure on rates.
Paul Kasriel
The only reason they won't cut is because Alan Greenspan suggested he wasn't yet in the mood to cut, ... He's probably a Cubs fan as well -- they always say, 'Wait 'til next year.' In this case, Greenspan says, 'Wait 'til the second half.'
Paul Kasriel
And rates are not likely to be adjusting downward. Households are paying about 13.75 percent of their aggregate tax income to service debt -- and it is going to go higher.
Paul Kasriel
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