Ateneo Professor on Entrepreneurship
From Moneynews
Marc Faber, author Gloom, Doom and Boom report, said that he was Bernanke the US Central Bank, he would resign for having damaged the economy.
The QE3 would be in effect: US Fed would buy monthly, (inject liquidity) $40 billion worth of securities held by banks to stimulate the economy.
The problem with this move is that money moves to the stock market, props up the prices and the rich who invest in the stock market. profits; the added liquidity does not translate into more productive enteprises, and the jobs, which are needed are not created.
As we all know, low interest rates, high liquidity encourages inflation and consumption; no investments because money is cheap.
Faber - Fed Bank Chairman should resign
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