A Global Monetary Plague

The Great Monetary Experiment designed andadministered by the Federal Reserve under the Obama Administration unleashedstrong irrational forces in global asset markets.  The result was a monetary plague  which has attacked and corrupted the vitalsignalling function of financial market prices.  This book analyses how quantitative easing causeda sequence of markets to become infected by asset price inflation. It explainshow instead of bringing about a quick return to prosperity from the GreatRecession, the monetary experiment failed in its basic purpose. Bringing abouteconomic debilitation, major financial speculation, waves of mal-investment inparticular areas, and a colossal boom in the private equity industry, theexperiment instead produced monetary disorder. Brendan Brown puts the monetary experiment into aglobal and historical context, examining in particular Japanese folklore ofdeflation and the Federal Reserve's first experiment of quantitative easing inthe mid-1930s.  The author couplesanalysis from the Austrian school of monetary economics and Chicago monetarismwith insights from behavioral finance, and concludes with major proposals forthe present and the future, including ideas for monetary reform in the UnitedStates, and suggestions for how investors can survive the current marketplague.