I'm sorry, but Bernanke is just as stupid as the libs!
He wants 600 billion to buy bonds in an attempt to boost the economy?
These morons are completely out of touch with reality, the economy is shit, because of their earlier 1.7 trillion dollar bailout.
Give us a month, and watch the economy kick in. I just wish we could stop this bull shit move, Husein will claim it was his bailouts that restarted the economy.
Oh yeah, the article, here it is if you really want to be depressed.
The Federal Reserve, in a dramatic effort to rev up a "disappointingly slow" economic recovery, said it will buy $600 billion of U.S. government bonds over the next eight months to drive down interest rates and encourage more borrowing and growth.
Many outside the Fed, and some inside, see the move as a 'Hail Mary' pass by Fed Chairman Ben Bernanke. He embraced highly unconventional policies during the financial crisis to ward off a financial-system collapse. But a year and a half later, he confronts an economy hobbled by high unemployment, a gridlocked political system and the threat of a Japan-like period of deflation, or a debilitating fall in consumer prices.
http://online.wsj.com/article/SB10001424052748703506904575592471354774194.html?mod=WSJ_hp_LEADNewsCollection (http://online.wsj.com/article/SB10001424052748703506904575592471354774194.html?mod=WSJ_hp_LEADNewsCollection)
:o That should devalue the dollar even more.
Great.
Quote from: walkstall on November 03, 2010, 09:21:28 PM
:o That should devalue the dollar even more.
Which brings up the question of what our trading partners, particularly China, can do to protect themselves from irresponsible American monetary policy.
There's no small irony in the fact that China's got a closer relationship to the Republicans when it comes to fiscal policy then it does with the Democrats but the big question is how they can protect themselves. It's not like China's can create the confidence necessary to become the nation that's the source of the world's reserve currency but we're working pretty hard to piss away confidence in the dollar. What's that leave? I don't know but I do know the answer's not going to make anyone happy.
I can think of about 100 useless and redundant gov services that could be cut today, and no one would vere notice.
I hope the Pubs are thinking along the same lines..
Thing is, we need to stop these fools before they totally destroy what little value the dollar has left.
Estimates show that this bailout may devalue our currency by as much as 20%.
My thinking is that we are going to see several "lost decades" just like Japan.
The Great Credit Contraction continues unabated.
This coupled with continued falling CRE, Home and Property values is offsetting all attempts by the Fed to "inflate" the economy.
Stagflation comes home to roost.
If this BS goes through, get ready to pay more for everything, from energy to food, the dollar isn't going to go very far.
I believe this to be the proverbial straw that breaks the Camels back.
Quote from: Solar on November 04, 2010, 06:55:54 AM
I can think of about 100 useless and redundant gov services that could be cut today, and no one would vere notice.
I hope the Pubs are thinking along the same lines..
Thing is, we need to stop these fools before they totally destroy what little value the dollar has left.
Estimates show that this bailout may devalue our currency by as much as 20%.
Consider it is only worth about 4 cents compared to when the FED became all powerful in 1913.
Quote from: Shooterman on November 04, 2010, 07:49:07 AM
Consider it is only worth about 4 cents compared to when the FED became all powerful in 1913.
It fell even more? Last time I heard about it's value, it was around 6 cents.
Quote from: Solar on November 04, 2010, 07:27:08 AM
If this BS goes through, get ready to pay more for everything, from energy to food, the dollar isn't going to go very far.
I believe this to be the proverbial straw that breaks the Camels back.
The devaluing of the U.S. dollar is already here, and the resulting inflation is already here too. The Obamanistas have been "cooking the books" since Obama whipped out his credit card almost two years ago and started running up trillions of dollars in debt. Their inflation statistics and unemployment statistics and economic stimulus plan statistics and cash for clunkers statistics are all LIES. Period.
Been to the grocery store lately? Checked the price of meat and produce and other groceries? Same goes for the gas station and the drug store and Wal Mart.
We are living in a country that is being governed by a second rate Las Vegas lounge magician who has been playing sleight of hand with the American people for almost two years now.
Obama is not going to take this election beating sitting down. After he finishes spending $200 million jetting off to India to have a chat with the Prime Minister, between now and January he and his lame duck Congress are going to test the limits of their temporary power, and we are going to see all kinds of ridiculous legislation and executive orders that will test the limits of the U.S. Constitution.
Quote from: Solar on November 04, 2010, 07:51:24 AM
It fell even more? Last time I heard about it's value, it was around 6 cents.
I had heard 5 cents, but that was before Bush-Obama f**king with the money supply, I figure that made it 4 cents. Now, we may be looking at negative value.
Quote from: AmericanFlyer on November 04, 2010, 08:11:54 AM
The devaluing of the U.S. dollar is already here, and the resulting inflation is already here too. The Obamanistas have been "cooking the books" since Obama whipped out his credit card almost two years ago and started running up trillions of dollars in debt. Their inflation statistics and unemployment statistics and economic stimulus plan statistics and cash for clunkers statistics are all LIES. Period.
Been to the grocery store lately? Checked the price of meat and produce and other groceries? Same goes for the gas station and the drug store and Wal Mart.
We are living in a country that is being governed by a second rate Las Vegas lounge magician who has been playing sleight of hand with the American people for almost two years now.
Obama is not going to take this election beating sitting down. After he finishes spending $200 million jetting off to India to have a chat with the Prime Minister, between now and January he and his lame duck Congress are going to test the limits of their temporary power, and we are going to see all kinds of ridiculous legislation and executive orders that will test the limits of the U.S. Constitution.
The books have been cooked for 40 years. They all but tell you now they are cooking them.
Quote from: AmericanFlyer on November 04, 2010, 08:11:54 AM
The devaluing of the U.S. dollar is already here, and the resulting inflation is already here too. The Obamanistas have been "cooking the books" since Obama whipped out his credit card almost two years ago and started running up trillions of dollars in debt. Their inflation statistics and unemployment statistics and economic stimulus plan statistics and cash for clunkers statistics are all LIES. Period.
Been to the grocery store lately? Checked the price of meat and produce and other groceries? Same goes for the gas station and the drug store and Wal Mart.
We are living in a country that is being governed by a second rate Las Vegas lounge magician who has been playing sleight of hand with the American people for almost two years now.
Obama is not going to take this election beating sitting down. After he finishes spending $200 million jetting off to India to have a chat with the Prime Minister, between now and January he and his lame duck Congress are going to test the limits of their temporary power, and we are going to see all kinds of ridiculous legislation and executive orders that will test the limits of the U.S. Constitution.
This shit has been going on since Tricky Dicky and even LBJ before him. It may be worse under Obambam, but damned sure don't cut Bush any slack. That f**ker was almost as bad.
Quote from: Shooterman on November 04, 2010, 08:22:42 AM
The books have been cooked for 40 years. They all but tell you now they are cooking them.
You are absolutely correct, Shooter. This has been going on for a LONG time, and it doesn't matter what political party is doing the "bean-counting".
Quote from: Shooterman on November 04, 2010, 08:26:09 AM
This shit has been going on since Tricky Dicky and even LBJ before him. It may be worse under Obambam, but damned sure don't cut Bush any slack. That f**ker was almost as bad.
Even longer, but they were smart leaches, they knew not to suck the host dry.
Hussein comes along and cuts the main artery.
Were about to bleed out, assuming there is nothing we can do to stop them.
idiot! This is like wadding up paper and setting it on fire to keep warm in sub zero temps. Gone in a flash. What we need is for people to go back to work.
That means The Mao-ist Marxist wunderkins are going to have to foregt their agenda and actually do something drastic like cut all taxes on capitol gains and suspend income taxes for energy related jobs...I don't know what exactly but something drastic has to be done, jobs are disappearing and the economy is sinking even faster as businesses go under and race to move off shore trying to get away from the Obamao tax and regulation machine.
Billy
Quote from: BILLY-bONNEY on November 04, 2010, 04:37:58 PM
idiot! This is like wadding up paper and setting it on fire to keep warm in sub zero temps. Gone in a flash. What we need is for people to go back to work.
That means The Mao-ist Marxist wunderkins are going to have to foregt their agenda and actually do something drastic like cut all taxes on capitol gains and suspend income taxes for energy related jobs...I don't know what exactly but something drastic has to be done, jobs are disappearing and the economy is sinking even faster as businesses go under and race to move off shore trying to get away from the Obamao tax and regulation machine.
Billy
We just might put a stop to this, with some surprising allies.
http://www.ft.com/cms/s/0/981ca8f4-e83e-11df-8995-00144feab49a.html#axzz14MUqNtTF (http://www.ft.com/cms/s/0/981ca8f4-e83e-11df-8995-00144feab49a.html#axzz14MUqNtTF)
I think I figured out what this is all about.
It has a two fold purpose, both somewhat contradictory to one another, but for a Marxist, a brilliant move.
Husein knows quite well that just the fact that the Pubs seized power, that business will take a collective sigh because they know adults have taken over, business will start it's recovery and begin hiring.
So what does he do? He prints up 6 hundred billion and will claim his bailout saved the economy and turned it around, in turn claiming the Dims way is what works, spending our money.
Now for the second part of this evil plan, and I do mean evil, because destroying Capitalism has always been his goal, by doing the bailout, he will effectively destroy the buying power of the US and put us on an even footing with the rest of the World.
I know it sounds like a conspiracy case, but when you really think about it....