Who has benefited most from the government bail outs of the economy since 2008? I think that question is easily answered by the FT this morning, which says:
US dealmaking hit an all-time monthly record in May, surpassing the previous highs seen during the peak of the dotcom bubble and the zenith of the debt boom that led to the 2008 financial crisis.
The overall value of deals in US-bound mergers and acquisitions activity amounted to $243bn in May compared to $226bn during the same month in 2007 and $213bn in January 2000, the previous biggest and second biggest months respectively, according to Dealogic data.
That's US quantitative easing money designed to assist the financial sector delivering this rash of activity that will be keeping Wall St, its advisers and the US 1% in profits.
That this type of quantitative easing has also failed is obvious if this is the case.
And yet there is no doubt quantitative easing is still needed: the economy in which most people live and work is not booming, whatever is happening in finance. This is why green infrastructure quantitative easing is so important.