This was not a problem during the Great Depression, when the systemic risk of any bank failure was quite low.
With this in mind, Friedman may reluctantly accept Bernanke's approach and think that only this is the way out.
Of course, he would initially oppose government-backed businesses entering the U.S. real estate market and view the crisis mainly as the result of the government's failure to successfully intervene in the mortgage market.
There is no doubt that Friedman's theory changed people's perception of the Great Depression.
We should pay attention to the role of monetary policy, which has helped the editors deal with the recent financial crisis to a large extent.
But what about the unconventional monetary policy that was subsequently used to support the recovery?
The effectiveness of quantitative easing still depends to a certain extent on a poorly operated banking system.
It is good to create funds, but these funds must enter the economy, especially to enable small businesses to lend and invest.
There is evidence that these unconventional monetary policies have had some positive effects, but there are also concerns that the sharp increase in money supply will have negative effects, especially that some funds have flowed into crazy stock markets around the world.
Objectively speaking, there is no conclusion on this point at this point.
However, Milton Friedman generally supports quantitative easing, and he personally witnessed Japan's implementation of this policy.
Japan was the first country to take quantitative easing measures since the real estate bubble burst in the early 1990s, so the policy's first appearance came almost 20 years before the global financial crisis.
Editor-in-chief Friedman agreed with the Bank of Japan's practices and commented on the policies it implemented, saying: The most reliable way to achieve a healthy economic recovery is to increase the currency growth rate.He believes that the Bank of Japan should implement quantitative easing policies because interest rates had fallen to the lowest level at that time, and the Japanese economy was still in dire straits: quantity, so since Friedman supports Japan's quantitative easing policies, he will believe that the adoption of unconventional policies by the United States, the United Kingdom, the euro zone and other countries is also necessary to promote lending in these economies.
Japan and the ECB, which set negative interest rates, will also use new tools to increase capital flows in the economy.
But Friedman should look at macroprudential policies with a more cautious attitude, which gives central banks more direct power to regulate the market to achieve several goals of their monetary policy.
However, today's financial system is much more complex and more global, so Friedman's advocates are likely to support the view that maintaining credit and debt levels has become an important goal of central bank management, which is also part of maintaining the stability of the monetary system.
As the only superpower in the world, the United States has instantly affected financial centers around the world and some neighboring countries. Its scope is far more than just the subprime mortgage crisis, but spread to the entire financial industry.
Although the US current account deficit has been declining, it still accounts for about 6% of GDP. Because the consumption of far more products than the products it produces, Americans are still one of the largest sources of demand in other regions of the world. The sharp drop in demand has greatly affected the economies of other regions and once caused panic among countries around the world.
In another time and space, this financial crisis lost 4 trillion US dollars overnight. Coupled with the long-term decline in stocks, the global loss of US dollars is no less than 1 trillion US dollars!
These losses do not require Chen Hao to fuel the fire. From last year to this year, the losses in the global financial stock market are simply uncountable!
Japan and South Korea, two Asian countries, are also in a turmoil. Although the country will not go bankrupt, the assets of the middle class have begun to shrink significantly, let alone the lower-class civilians. They are struggling and difficult to eat!
In such a big environment, Chen Hao, who has a super computer, is undoubtedly still a profitable person!
The terminals of over 500 billion US dollars of cash flow into supercomputers can be transferred to major banks controlled by Chen Hao when needed!
So it is not an exaggeration to say that Chen Hao is rich enough to rival a country now!
In the Pacific, the islands are just sprinkling water!For private jets, there is no problem buying one to scrap one!
Without exaggeration, Chen Hao has so much cash flow that he can't spend it!
So under such a general premise, I don’t play with more female stars, but I also play Japanese, Korean, European, American, Indian, and domestic in different ways, otherwise how can I be worthy of my wealth that is as rich as a country!
So, with Chen Hao's current wealth and power, it is actually difficult to make her invest in a woman, except for those who used to be Tong Liya, Liu Tao, Hu Jing, and Chen Hao!
Of course, there are also mother-daughter flowers, Liu Xiaoli and Liu Yifei!
Others, Zeng Li, Yang Mi, Amo Alamuddin, Ivanka, Nicole Kidman, Charlize Theron and other women have more or less affection, and most of the rest are just toys!
However, Chen Hao's attitude towards toys may not necessarily have to step on his feet and humiliate him in every way. As long as he is obedient, he should be regarded as a pet who can act spoiled. After all, pets can still be favored by their owners!
Chen Hao's eyes were once again on Zhao Hanyingzi!
Zhao Han Yingzi looks very girlish. She dares to wear anything at the age of 18. She has a good figure that makes people envious.
This blue skirt features a very high density perspective effect.
Although it looks a little exposed at first, these perspective areas are made of lace. Although they are a bit transparent, they will not expose the skin inside.
Zhao Han Yingzi is really scheming. Through the effect of fake perspective, her temptation is doubled!
This purple skirt adopts a V-neck design. Although Zhao Han Yingzi's figure is not so well-made, wearing this V-neck clothes gives people a very comfortable and gentle feeling.
On the contrary, if you have a well-equipped figure and wear this piece of clothing, you will definitely not be able to achieve such a good visual effect as Zhao Han Yingzi.
For this kind of forest-style skirt, if the figure is too full, it will not look good!
The most important thing about this lilac skirt is its lace design. Lace can be said to be the favorite material of many girls. It not only gives people a gentle and sweet feeling, but also has a great texture and comfort. The lace design with different patterns looks sexy and perfect!
Zhao Hanyingzi's blue skirt has both suspenders and butterfly sleeves. This sleeve is removable. As long as it is placed on it, it can create butterfly sleeves. If it falls off, it can display the suspenders inside.
It not only achieves sexy and conservative two-in-one, but also gives people a mysterious and unique feeling.
Zhao Han Yingzi can be said to be the spokesperson for the tulle transparent skirt. This tulle design has achieved a mysterious perspective effect.
The middle is covered with some exquisite Chinese embroidery. It can be said that it is both sexy and unique, showing Zhao Han Yingzi's feminine charm, but it is not elegant and generous!
With this in mind, Friedman may reluctantly accept Bernanke's approach and think that only this is the way out.
Of course, he would initially oppose government-backed businesses entering the U.S. real estate market and view the crisis mainly as the result of the government's failure to successfully intervene in the mortgage market.
There is no doubt that Friedman's theory changed people's perception of the Great Depression.
We should pay attention to the role of monetary policy, which has helped the editors deal with the recent financial crisis to a large extent.
But what about the unconventional monetary policy that was subsequently used to support the recovery?
The effectiveness of quantitative easing still depends to a certain extent on a poorly operated banking system.
It is good to create funds, but these funds must enter the economy, especially to enable small businesses to lend and invest.
There is evidence that these unconventional monetary policies have had some positive effects, but there are also concerns that the sharp increase in money supply will have negative effects, especially that some funds have flowed into crazy stock markets around the world.
Objectively speaking, there is no conclusion on this point at this point.
However, Milton Friedman generally supports quantitative easing, and he personally witnessed Japan's implementation of this policy.
Japan was the first country to take quantitative easing measures since the real estate bubble burst in the early 1990s, so the policy's first appearance came almost 20 years before the global financial crisis.
Editor-in-chief Friedman agreed with the Bank of Japan's practices and commented on the policies it implemented, saying: The most reliable way to achieve a healthy economic recovery is to increase the currency growth rate.He believes that the Bank of Japan should implement quantitative easing policies because interest rates had fallen to the lowest level at that time, and the Japanese economy was still in dire straits: quantity, so since Friedman supports Japan's quantitative easing policies, he will believe that the adoption of unconventional policies by the United States, the United Kingdom, the euro zone and other countries is also necessary to promote lending in these economies.
Japan and the ECB, which set negative interest rates, will also use new tools to increase capital flows in the economy.
But Friedman should look at macroprudential policies with a more cautious attitude, which gives central banks more direct power to regulate the market to achieve several goals of their monetary policy.
However, today's financial system is much more complex and more global, so Friedman's advocates are likely to support the view that maintaining credit and debt levels has become an important goal of central bank management, which is also part of maintaining the stability of the monetary system.
As the only superpower in the world, the United States has instantly affected financial centers around the world and some neighboring countries. Its scope is far more than just the subprime mortgage crisis, but spread to the entire financial industry.
Although the US current account deficit has been declining, it still accounts for about 6% of GDP. Because the consumption of far more products than the products it produces, Americans are still one of the largest sources of demand in other regions of the world. The sharp drop in demand has greatly affected the economies of other regions and once caused panic among countries around the world.
In another time and space, this financial crisis lost 4 trillion US dollars overnight. Coupled with the long-term decline in stocks, the global loss of US dollars is no less than 1 trillion US dollars!
These losses do not require Chen Hao to fuel the fire. From last year to this year, the losses in the global financial stock market are simply uncountable!
Japan and South Korea, two Asian countries, are also in a turmoil. Although the country will not go bankrupt, the assets of the middle class have begun to shrink significantly, let alone the lower-class civilians. They are struggling and difficult to eat!
In such a big environment, Chen Hao, who has a super computer, is undoubtedly still a profitable person!
The terminals of over 500 billion US dollars of cash flow into supercomputers can be transferred to major banks controlled by Chen Hao when needed!
So it is not an exaggeration to say that Chen Hao is rich enough to rival a country now!
In the Pacific, the islands are just sprinkling water!For private jets, there is no problem buying one to scrap one!
Without exaggeration, Chen Hao has so much cash flow that he can't spend it!
So under such a general premise, I don’t play with more female stars, but I also play Japanese, Korean, European, American, Indian, and domestic in different ways, otherwise how can I be worthy of my wealth that is as rich as a country!
So, with Chen Hao's current wealth and power, it is actually difficult to make her invest in a woman, except for those who used to be Tong Liya, Liu Tao, Hu Jing, and Chen Hao!
Of course, there are also mother-daughter flowers, Liu Xiaoli and Liu Yifei!
Others, Zeng Li, Yang Mi, Amo Alamuddin, Ivanka, Nicole Kidman, Charlize Theron and other women have more or less affection, and most of the rest are just toys!
However, Chen Hao's attitude towards toys may not necessarily have to step on his feet and humiliate him in every way. As long as he is obedient, he should be regarded as a pet who can act spoiled. After all, pets can still be favored by their owners!
Chen Hao's eyes were once again on Zhao Hanyingzi!
Zhao Han Yingzi looks very girlish. She dares to wear anything at the age of 18. She has a good figure that makes people envious.
This blue skirt features a very high density perspective effect.
Although it looks a little exposed at first, these perspective areas are made of lace. Although they are a bit transparent, they will not expose the skin inside.
Zhao Han Yingzi is really scheming. Through the effect of fake perspective, her temptation is doubled!
This purple skirt adopts a V-neck design. Although Zhao Han Yingzi's figure is not so well-made, wearing this V-neck clothes gives people a very comfortable and gentle feeling.
On the contrary, if you have a well-equipped figure and wear this piece of clothing, you will definitely not be able to achieve such a good visual effect as Zhao Han Yingzi.
For this kind of forest-style skirt, if the figure is too full, it will not look good!
The most important thing about this lilac skirt is its lace design. Lace can be said to be the favorite material of many girls. It not only gives people a gentle and sweet feeling, but also has a great texture and comfort. The lace design with different patterns looks sexy and perfect!
Zhao Hanyingzi's blue skirt has both suspenders and butterfly sleeves. This sleeve is removable. As long as it is placed on it, it can create butterfly sleeves. If it falls off, it can display the suspenders inside.
It not only achieves sexy and conservative two-in-one, but also gives people a mysterious and unique feeling.
Zhao Han Yingzi can be said to be the spokesperson for the tulle transparent skirt. This tulle design has achieved a mysterious perspective effect.
The middle is covered with some exquisite Chinese embroidery. It can be said that it is both sexy and unique, showing Zhao Han Yingzi's feminine charm, but it is not elegant and generous!
![[Incestuous Novels] My wife's two cousins - Harem, hunting for beauty, cool writing](/templates/nvshen/themes/img/thumb_1.png)