The US Economy Has Not Recovered and Will Not Recover
CounterPunch, 19 February 2016
The US economy died when middle class jobs were offshored and when the financial system was deregulated. . . . The Federal Reserve’s zero interest rate policy was designed to support the balance sheets of the mega-banks and denied Americans interest income on their savings. This policy decreased the incomes of retirees and forced the elderly to reduce their consumption and/or draw down their savings more rapidly, leaving no safety net for heirs. Read more.