Posted on 09/16/2012 6:12:56 AM PDT by jmaroneps37
“Pump to dump the Republicans” is now in full swing as Fed head Ben Bernanke looks to secure his reappointment and Obama’s reelection with a new Quantitative Easing maneuver even though he admitted in August that “the economy is far from satisfactory!”
Print money we don’t have but print it we will because America’s go to guy for easy money just pulled the lever of our printing presses to artificially pump the housing market hoping those new home owners somehow will make it to the polls in November to pull their vote levers for Barack Obama.
But wait a minute. Isn’t a loosey goosey housing market crisis what caused the 2008 crash? And doesn’t doing the same thing over and over to get different results constitute insanity?
Well, maybe, not so much. If this financial snake oil salve worked in Obama’s favor then, maybe so now, and insanity turns into Democrat campaign win.
Bernanke just took advantage of his own loose money policies when he recently re fi’d Washington home unloading 2009 fixed rate mortgage with 5.375 rate into a new fixed rate of 4.25% in 2011.
.. home listed valued at between $500,000 and $1 million dollars with no exact figure being required for reporting purposes.
And how about seeing this man’s former boyhood home sold to another buyer today for $83,000 in a foreclosure sale?
Bernanke’s policies really benefited the young banker who snapped up this great bargain when the former owners fell behind on their home payments. “The small town-Dillon, S.C.-that gave the Fed its chairman is suffering more than most with an unemployment rate of 14.2%, double the national average,” reports the Wall Street Journal.
“day after …. cut its credit rating for the U.S. government to “AA-” from “AA.”
(Excerpt) Read more at coachisright.com ...
THREE WAYS TO TAKE OVER A COUNTRY:
1. Take over the media (NY Times, Boston Globe, et al).
2. Flood the country with money (QE’s)
3. Pass higher taxes.
The only “gain” will be in the stock market and commodities markets.
Not because of real gains, but because investors are looking for a hege against inflation.
Attempting to put money in something that will inflate faster than the general inflation rate.
Money seeking protection against inflation.
But that will have a finite life and then the market will crash just as the housing market crashed.
That much I know.
What to do for long range protection?
That, I do not know and I doubt that anyone else does.
That would be gold. Hard, physical gold.
That along with ammo, guns, tobacco and liquor. Not necessarily in that order.
I agree that gold will always have some value. It may fall in value to a low that is unsatisfactory, but it will never go to zero like many paper investments.
As for the liquor......a good point.
A better one would be to learn how to make it.
There’s something very disturbingly parallel between Bernanke’s eleventh hour money pumping and Chief Justice Roberts’ curious support for health care that both work to benefit Obama. Very disturbing indeed.
That would be gold. Hard, physical gold.
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As a poster on Zerohedge said recently: “anything that can’t be printed.” LOL
We can’t have QE-Infinity. Every time the Fed pushes the money-printing button there’s a greater risk that rampant inflation will break out, just as every time someone pulls the trigger playing Russian roulette there’s a greater risk he’ll blow his brains out.
So why is the Fed pulling the trigger again? Probably because there is one thing that the QEs have accomplished. No longer do we see weekly lists of banks that have gone under, as we did for a long period after the 2008 crash. The Fed has been printing money and depositing it in banks to keep bad banks from becoming insolvent.
Is that a good reason to risk rampant inflation? No, because if banks can’t function without continuing Fed help, as they seem unable to do even after two QEs, the Fed will have to keep pouring money into them ad infinitem, assuring rampant inflation, devaluation of the dollar, and America’s descent into full banana-republic status.
Who cares if banks fail in Yonkers? Unfortunately, Ben Bernanke is obsessed with keeping them open, even at the expense of guaranteeing America’s economic destruction.
Every thing president obumbler has done has been for the Wall Street crowd.
What Bernanke has done will cause the stock market to go through the roof as people desperately try to beat inflation.
Makes me wonder whether large bribes or threats were made to make them do what Obama wants. The media acts the same way. It reeks of Chicago syle politics on a much larger scale.
It reeks of Chicago syle politics on a much larger scale.
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You got it. That’s what I’m thinking as well.
If they can’t be persuaded with a simple bribe, then show them the embarrasing info that will be released if they don’t go along. The sad truth is that this type of hardball politics probably works quite well since most people in the political arena will do anything to hang on to their cushy jobs and avoid unwanted exposure.
“Print money we don’t have but print it we will because America’s go to guy for easy money just pulled the lever of our printing presses to artificially pump the housing market hoping those new home owners somehow will make it to the polls in November to pull their vote levers for Barack Obama.
But wait a minute. Isn’t a loosey goosey housing market crisis what caused the 2008 crash? And doesn’t doing the same thing over and over to get different results constitute insanity?”
Wow... I stopped reading after this because these are just clueless statements.
“Print money we don’t have but print it we will because America’s go to guy for easy money just pulled the lever of our printing presses to artificially pump the housing market hoping those new home owners somehow will make it to the polls in November to pull their vote levers for Barack Obama.
But wait a minute. Isn’t a loosey goosey housing market crisis what caused the 2008 crash? And doesn’t doing the same thing over and over to get different results constitute insanity?”
Wow... I stopped reading after this because these are just clueless statements.
“Print money we don’t have but print it we will because America’s go to guy for easy money just pulled the lever of our printing presses to artificially pump the housing market hoping those new home owners somehow will make it to the polls in November to pull their vote levers for Barack Obama.
But wait a minute. Isn’t a loosey goosey housing market crisis what caused the 2008 crash? And doesn’t doing the same thing over and over to get different results constitute insanity?”
Wow... I stopped reading after this because these are just clueless statements.
we are paying the highest prices for gas in our lives...our home values are deflated....our friends and neighbors are losing work, or losing hours.....we have less people actually working now then we did several years ago....we have a mid east ready to explode....
who the hell cares what the dow jones is doing when the jimmy jones and the joey jones don't have jobs, and are losing their homes.....
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