David McWilliams: The policy that saved the rich and screwed the young

Millennials won’t forget being abandoned in 2009. Their votes will change our world

US representative Alexandria Ocasio-Cortez plays "a game" with a panel of government watchdogs to dissect US campaign finance laws. Video: C-Span

Ten years ago, faced with mass bankruptcies and the very real prospect of a rerun of the Great Depression, the US Federal Reserve took the fateful decision to unveil a new policy called “quantitative easing” or QE.

This anniversary may seem unimportant but it should be commemorated because the policy of QE changed politics more profoundly than almost any other event or policy initiative in the past decade. Ironically, a policy that was supposed to protect the balance sheets of the wealthy has unleashed forces that may lead to the appropriation of those assets in the coming years.

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