Via Truthout: Paul Krugman | When China Exports, Everyone Pays

Paul Krugman, Krugman & Co.: "What the Fed is trying to do through quantitative easing, or releasing more money into the economy, is to foster an expansionary monetary policy and increase productivity in the face of a depressed economy and threats of deflation. What else can the United States do? Now, it is true that one effect of that policy, if it isn't matched abroad, is a weaker American dollar - but that is not the ultimate goal."
 
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