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Much obviously. but what about this time? what reason is there to believe it would happen this time? he said this time it s unlimited. not going to end. every year, 40 billion a month right now, if that doesn t work, we ll buy another 40 and we ll buy another and another until it finally works. two things have to happen that haven t happened in the last four years, banks have to take this money and start lending it to productive projects. instead of sitting on the balance sheets. and borrowers have to take risks by taking out loans and putting them into productive projects. why hasn t that already been happening the past four years? there s no reason why banks shouldn t be lending and borrowers shouldn t be borrowing. there is a reason, that s because they re uncertain whether they will make money on both sides of the loan. because of the tax, the tax policy, regulatory policy and other government policies, which are separate from monetary policy. o mary, the stock market is ....

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