Episode 12 Synopsis: Greenspan’s QE Criticism Too Little Too Late
- FOMC declares “substantial improvement” in economy.
- Does this narrative reflect the best possible spin or ignorance?
- Behind the 3.5% GDP number:
- Deflator – 1.3% indicates decrease in inflation.
- 4.6% surge in gov’t spending
- Big drop in trade deficit resulting from drop in crude oil prices adds 1.3% to GDP
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