Fed Vice Chair: “global growth … slowing … broad-based”

NY Times, Aug 11, 2014: Stanly Fischer, Vice Chairman of the Federal Reserve
Excerpts:

“Year after year, we have had to explain from midyear on why the global growth rate has been lower than predicted as little as two quarters back,” he said. “This slowing is broad-based, with performance in emerging Asia, importantly China, stepping down sharply from the post-crisis surge, to rates significantly below the average pace in the decade before the crisis.”

Mr. Fischer said it was difficult to determine how much of the slackness was because of cyclical factors and how much represented a more fundamental, structural change in advanced economies.

But he warned of three pronounced headwinds that have held back growth in the United States: a still anemic housing market, cuts in federal government spending and weaker global growth that reduced demand for American exports.
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Note – the Federal Reserve and the U.S. Department of Treasury have ‘fire-hosed’ trillions of dollars of liquidity into the banking system over the past 5 years – in large part, ‘targeting’ major multi-national banks.

And the ‘trillions of dollars’ of bailouts have degraded the purchasing power of the U.S. Dollar… and have done little generate legitimate economic growth in the U.S. over the course of the past 5 years.

It is time for a new economic recovery plan – one that targets ground-level America by providing equal access to liquidity for American families.

The Leviticus 25 Plan.

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