Posted on 03/08/2011 9:58:25 AM PST by SeekAndFind
When they print this money, who gets it?
The dollar’s going off the cliff now I take it.
Ya know, you can never print too much money!
Isn’t this the classic definition of insanity; doing the same thing over and over and expecting different results? Fine, if you’re on your own dime; but this is our economy and our money -— oh, wait, they just print it. What could go wrong?
They really should just call this the Titanic 2.
It’s either QE3 or an end to deficit spending.
One finances the other.
And you know they aren’t going to shave a trillion plus off the budget going forward from this June.
And a 4 and a 5 etc. They have no choice but to inflate at our expense or blow the Ponzi.
Damn Democrats want to declare political war over a measly 100 billion!
This is NOT going to end well.
These people should be removed and arrested.
QE3 is going to have to be MUCH larger than QE2. QE2 @ $600 billion will only finance the deficit for about three months at current spending levels.
Now you know why food and energy are not in the government inflation index.
They’re in full on panic mode. They’re not going to be able to keep this economic shipwreck topside until Nov 2012, and it scares them witless. I have always said The Won never intended to preside over a basket-case. He thought he could redistribute wealth, promote ‘economic justice’, kill off the energy industry (except for the ‘green’ components), and create a marxist paradise. (In the fantasyland marxist paradise, the Ruling Class never runs out of Other People’s Money with which to engorge themselves and their constituents.)
Now it is crashing and burning. Yet all Obama knows is Keynes [can we finally agree he is just not that bright?], so the worse things get, the harder he doubles down. All the GOP has to do is avoid nominating a RINO, and we’ll win 2012 in a walk.
I posted the following a couple of days ago:
Well the Fed has encountered the classic Rock and A Hard Place and they are caught right in the middle.
Here are their choices:
1. Cool it with the QE stuff, refuse to fund the Federal Government deficits with Xerox Money. Result: Interest rates skyrocket, the U.S. Government will rapidly see their raising borrowing costs totally destroy Medicare, Medicade, Social Security and Obamacare. But inflation will be modest. Taxes won’t be. They will have to go up.
2. Keep issuing $Xerox and keep loaning to the Federal Government. Interest rates stay low. Employment slowly improves. Gold goes from $1400 to $5000 plus per ounce. Your house that was underwater at $150,000 is now going for $500,000. What’s not to like? That retirement fund you set up that was supposed to last 20 years will be gone by Chrismas? Well there is always a little collateral damage when you are doing big things with the economy. Oh, and yes, the Federal debt goes from $14 trillion to 2-3 times that in 10 years. The Government concedes that they will never be able to balance their budget. But who cares? If you lucky enough to have job it’s ‘Let the Good Times Roll’ all over again.
I’m betting the Fed will take Option 2.
Liberal “solutions” always fail, and then liberals always demand a strengthening of the solution which failed, which also fails, leading to liberals demanding a strengthening ... etc etc.
Nice username!
As Walter Williams has said - if you or I did this we’d be hauled off to jail for counterfeiting. Fed does this on a much larger scale and they call it QE. Fundamentally, there is no difference (aside from the fact that they aren’t in prison).
RE: Fundamentally, there is no difference (aside from the fact that they aren’t in prison).
One difference — They are AUTHORIZED BY LAW to print money. You and I aren’t.
Inflation = Robbery
Most people are too ignorant to interpret what is happening to them in plain view. This is more proof the government will continue to print greenbacks until it is worth less than toilet paper. The government knows the eventual outcome, but they hope to pass the blame onto the next administration rather than do the right thing now. Most of us are not wealthy enough to insulate ourselves in a total societal collapse or start over in another country. We are facing major upheaval in the future. Scary stuff.
bttt
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.