The Lords of Easy Money: How the Federal Reserve Broke the American Economy By Christopher Leonard
Buy More & Save
2 products — save 6%
3 products — save 8%
4+ products — save 10%
View discount codes
Free ShippingFree mainland UK delivery on orders over £35
5% Off First OrdersUse code AXEL5OFF for 5% off your first order
ISBN
9781982166632
Format
Paperback
Author
Christopher Leonard
SKU
SNG12101
Publisher
Simon & Schuster
Titles in Collection & Description
But the Fed also has a unique power to reshape the American economy for the worse, which it did, fatefully, on November 4, 2010 through a radical intervention called quantitative easing. In just a few short years, the Fed more than quadrupled the money supply with one goal: to encourage banks and other investors to extend more risky debt. Leaders at the Fed knew that they were undertaking a bold experiment that would produce few real jobs, with long-term risks that were hard to measure. But the Fed proceeded anyway...and then found itself trapped. Once it printed all that money, there was no way to withdraw it from circulation. The Fed tried several times, only to see market start to crash, at which point the Fed turned the money spigot back on. That’s what it did when COVID hit, printing 300 years’ worth of money in two short months.
Which brings us to now: Ten years on, the gap between the rich and poor has grown dramatically, stock prices are trading far above what’s justified by actual corporate profits, corporate debt in America is at an all-time high, and this debt is being traded by big banks on Wall Street, leaving them vulnerable—just as they were during the mortgage boom. Middle-class wages have barely budged in a decade, and consumers are buried under credit card debt, car loan debt, and student debt.
The Lords of Easy Money tells the shocking, riveting tale of how quantitative easing is imperiling the American economy through the story of the one man who tried to warn us. This will be the first inside story of how we really got here—and why we face a frightening future.
Shipping & Returns
Shipping
Mainland UK
• Standard Delivery (2–5 working days) — from £2.50
• Express Delivery (1–3 working days) — £5.99
FREE standard delivery on orders over £35.
Standard delivery is calculated automatically at checkout based on the weight of your order.
Northern Ireland
• Orders under 5kg — £3.99 via Royal Mail
• Orders from 5kg-27kg — £14.99
• Larger orders — £15.00 for each additional 30kg
Delivery charges are calculated automatically at checkout.
Returns
Changed your mind? You can return eligible items in accordance with our returns policy. Please see our Shipping & Returns information for full details and exclusions.
Frequently Asked Questions
What condition are the books?
All of the books on our website are brand new unless otherwise stated.
Can I track my order?
Yes. Once your order has been dispatched, we'll send you an email containing your tracking information.
What should I do if I’ve entered the wrong shipping address?
Please contact us at support@axelbooks.com as soon as possible. If your order hasn't been dispatched yet, we'll do our best to update the delivery address for you.
How can I contact customer support?
You can contact us using our contact form, by emailing support@axelbooks.com, or by calling us on 0116 261 9765.
What if I’ve received a damaged or incorrect item?
We're sorry if you've received a damaged or incorrect item. Please contact us with your order details and we'll work with you to resolve the issue as quickly as possible.