Deficit Owls | Just How Big Was The Bank Bailout? (Hint: Huge) @deficitowls5296 | Uploaded August 2016 | Updated October 2024, 11 hours ago.
Professor L. Randall Wray discussing the size of the Treasury and the Fed's bailout of banks in the aftermath of the Global Financial Crsis. Although the peak of loans outstanding was around $2 Trillion, the total number of loans made to financial institutions and foreign central banks was $29 Trillion.
$29 Trillion!!!!!
(So, for those of you who believe that printing money always leads to inflation, we printed $29 Trillion to save banks, nearly twice the US GDP, and saw pretty much no consumer price inflation. QED.)
See the whole video here: youtube.com/watch?v=SFf95BVx9Qw&index=7&list=PLYvSXI9SKGf2lIno6TI0r_PbLX_cpAwuu
Like Deficit Owls on Facebook: facebook.com/DeficitOwls
Professor L. Randall Wray discussing the size of the Treasury and the Fed's bailout of banks in the aftermath of the Global Financial Crsis. Although the peak of loans outstanding was around $2 Trillion, the total number of loans made to financial institutions and foreign central banks was $29 Trillion.
$29 Trillion!!!!!
(So, for those of you who believe that printing money always leads to inflation, we printed $29 Trillion to save banks, nearly twice the US GDP, and saw pretty much no consumer price inflation. QED.)
See the whole video here: youtube.com/watch?v=SFf95BVx9Qw&index=7&list=PLYvSXI9SKGf2lIno6TI0r_PbLX_cpAwuu
Like Deficit Owls on Facebook: facebook.com/DeficitOwls
