Today I was planning on a post about Quantitative Easing (QE) today, because it seemed to me that it would never work. However, today, Randy Wray beat me to it with another great post, this time at ND20, reviewing the whole situation in detail, placing it in political context, and explaining why it’s very unlikely that it will allow the economy to recover much more than it has already. Here are some key quotes from Randy’s piece.

The latest mortgage foreclosure mess is just another financial crisis.

It’s not a real economic crisis- no houses have been actually destroyed- no fire, hurricane, or earthquake damage, etc.

So the responses aren’t about bulldozers, hammers, concrete pouring, etc.

The question is whether this financial discovery/event spills over into the real economy.

Out-of-touch millionaires with close ties to Wall Street have steered our economic policy for too long. As Larry Summers leaves the National Economic Council, President Obama should replace him with a real progressive who will stand up to the banks and fight for an economy that works for all Americans.

Building Bridges Radio: Your Community and Labor Report, National Edition
Produced by Ken Nash and Mimi Rosenberg

Building Bridges: Your Community and Labor Report, National Edition
– Produced by Ken Nash and Mimi Rosenberg

Why can’t the folks inside the Beltway do something about it? Because they don’t hear or see us.

More good news on the economic front: The percentage of Americans struggling below the poverty line in 2009 was the highest it has been in 15 years, the Census Bureau reported Thursday, and interviews with poverty experts and aid groups said the increase appeared to be continuing this year. With the country in its worst [...]

Building Bridges Radio: Your Community and Labor Report, National Edition
Produced by Ken Nash and Mimi Rosenberg

Some reasons why there won’t be an American Hitler.

Wall Street’s Waterloo.