• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 7 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 11 minutes Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 9 hours Trump bogged down in Mideast quagmire. US spent $Trillions, lost Thousands of lives, and lost goodwill. FOR WHAT? US interests ? WHAT INTEREST ? . . . . China greatest threat next 50 years.
  • 41 mins Why is Strait of Hormuz the World's Most Important Oil Artery
  • 15 mins Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 12 hours Struggle For Supremacy: Kremlin Condemns Alleged U.S. Ultimatum To Turkey Over Missile Deal
  • 5 hours Apple Bid To Buy Tesla in 2013 For $240 a Share
  • 10 hours Another surprise 'build'
  • 17 hours Solar Cheaper than Coal
  • 9 hours CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 8 hours California's Oil Industry Collapses Despite Shale Boom
  • 9 hours IMO2020 To scrub or not to scrub
  • 9 hours IMO 2020 could create fierce competition for scarce water resources
  • 14 hours Compensation For A Trade War: Argentina’s Financial Crisis Creates An Opportunity For China
  • 10 hours Global Warming Making The Rich Richer

Bankers and Economists Fail to Understand Why the Economy isn't Growing

Central bankers debating the limits of power in Jackson Hole are wondering what's holding back the economy.

 "What is holding the economy back? Why is it that we've had such incredibly accommodative monetary policy for so long (but) we've had so little growth? I think it remains a puzzle," said Donald Kohn, who is now a senior fellow at the Brookings Institution think tank in Washington.

Adam Posen, who finished his final day as a member of the Bank of England's monetary policy on Friday and is a powerful advocate for more forceful central bank action, asked the same question as Kohn: "Why has all this lower short-term interest rates failed to make the economy go go go?" He argued that policymakers in Europe and the United States should waste no time in extending asset purchase programs to spur growth.

Central bankers and economists are so wrapped up in warped mathematical formulas they fail to understand the obvious. The answer, which they refuse to accept, or even consider as a possibility, is that central bankers and the monetary system itself are the problem.

Click here to read the full article.



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News