NYT Gets It Badly Wrong, Trillions Were "Lent", not "Spent"

The NYT had a bizarre front page article about the limited effectiveness of monetary policy in the euro zone and elsewhere. The headline of the piece refers to "trillions" of dollars being spent by central banks, a line repeated in the first sentence:

"There are some problems that not even $10 trillion can solve.

"That gargantuan sum of money is what central banks around the world have spent in recent years as they have tried to stimulate their economies and fight financial crises."

In fact, c...