2012-09-03marketshadows.com

Not surprisingly, the National Employment Law Project also concluded that, "The unbalanced recession and recovery have meant that the long-term rise in inequality in the U.S. continues. The good jobs deficit is now deeper than it was at the start of the 21st century."

Since the financial meltdown in 2008, the Fed has been expanding its balance sheet. Bernanke believes, without evidence, that his balance sheet policies are effective: "After nearly four years of experience with large-scale asset purchases, a substantial body of empirical work on their effects has emerged. Generally, this research finds that the Federal Reserve's large-scale purchases have significantly lowered long-term Treasury yields... These effects are economically meaningful."


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