Brief Notes for Wednesday Morning, 20.07.2016

Vacation is still ongoing, ending on Friday. Therefore, this explains the family pictures and political jabs on Facebook and the lack of economics content. Today, in brief, I'll explain what QE is and the "purpose" behind it.

The term QE, or “Quantitative Easing” was coined by Richard Werner, with whom I’ve had the great misfortune to debate on several occasions; an activity which I do not recommend, unless you fancy having your carefully crafted, well-reasoned arguments dismissed with the childish phrase, “That’s Fed PR!”, or something along the lines of, “The New York Fed controls the Federal Reserve”. In short, if extreme annoyance and high blood pressure is your thing, you’ll do well to accept an invitation to debate Werner. 

Anyway…