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Reply #9: First, the Fed isn't pumping $$ into the "economy" -- it's given to lenders & the rich.
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Thu May-19-11 04:51 PM
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9. First, the Fed isn't pumping $$ into the "economy" -- it's given to lenders & the rich. |
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And who wants to (or is able to) borrow money in this economic climate? Nobody. People without jobs can't borrow. People with shaky jobs or relatives w no jobs aren't crazy enough to borrow. Anyone who would possibly want to start a business won't borrow until it becomes obvious that there are enough confident people with jobs who can buy his service or product.
The rich, whether individuals or corporations, simply are sitting on their money.
This is not a recipe for recovery.
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