The Energy Report: James, with the U.S. election behind us, we are currently looking at a couple of looming and significant issues. One of these is QE3. You’re not a fan of easing; tell me why.
James West: Quantitative easing is just the issuance of more money. Since the onset of the crisis, two episodes of stimulus/quantitative easing injected $2.3 trillion into the economy between 2008 and 2011. Real gross domestic product (GDP) numbers in that timeframe show GDP grew by roughly a net of $2.3 trillion, demonstrating that the “recovery” GDP growth rate of 1.2% was not in fact … [visit site to read more]