Posted on 07/09/2011 6:43:10 AM PDT by Kaslin
This won't work either.
Try something effective, something American, as opposed to more socialism to ruin the currency of the US. Try cutting the tax on American business: to Zero% for one year; then 15% guaranteed after that. Watch unemplyment go away. Watch the overseas money return to the US.
You may be able to hold your head high again because America IS exceptional.
Other nations have done it under other names and Obama wanted to try it too. The only problem is that we are the reserve currency and now the rest of the world wants off us because of Quantitative Easing.
What is coming is severe inflation without salaries going up. Foreign goods are going to skyrocket. So all rubber products, Chromium from Africa and all other things we don't have from other nations will skyrocket in price.
This for two reasons, 1) We are going to have to pay for currency conversions where right now we don't. 2) The dollar is worth far less because of flooding it on the market.
What Obama really wants is Socialism and he is putting us into troubles in order to make it happen. Remember the phrase "Never let a good crisis go to waste". The Crisis is being created, to which Socialism is the answer the Progressives will insist.
The problem for him is he has to win the next election; he ain't like his buds Castro and Chavez that get a lifetime lease on destruction.
There is/are no tax(es) on American business. Those things called "business taxes" are just ways to use business to collect more tax revenue from individuals (in the case of businesses, their customers).
Most of the money went to foreign banks instead of our own, the truth is just now coming out:
Sorry but your link says Page not found. :(
http://www.zerohedge.com/article/mike-krieger-explains-why-qe-3-will-merely-keep-lights
Sorry, try cutting and pasting it then, they may not allow direct linking.
“Even Fed Chairman Ben Bernanke admits he can’t explain why nothing seems to work.”
The reason he can’t explain it is because we’ve maxed out our credit...something we never did in the past, so it’s not in his ‘models’.
Here’s another...
http://maseportfolio.blogspot.com/2011/06/federal-reserve-money-continues-to-go.html
And abolishing the Federal Reserve is not on HIS list of available options.
But his buddies in the Liberal Press will be rooting him on. Michele Obama said "we have help in the Press".
The Progressive/Liberal press have no choice but to build him up because they all want either communism or socialism. They give lip service to our country but their heart really isn't into it.
Get ready to hear Obama's opponent smeared as a racist and called dumb by the Lamestream Press. Oh, and get ready for them to say the opponent wants to take away Social Security from Grandma.
Just wait.
When they add cash to the system it has to go somewhere or else there is hyper inflation. This is simply the Fed continuing to hollow out the American economy.
Look for about $300 billion more after the QE2 recycling.
Truth is, all this was done in the hope it would actually work. There’s a contingent of economic theorists out there who thought that bending the yield curve lower by having the Fed purchase longer-dated maturities would goose the economy. They probably still think that way and want QE3, and QE4, if necessary.
This has, unfortunately, put the Fed in possession of a far riskier portfolio of assets than they normally hold, which could come back to bite them (and us, as taxpayers) somewhere down the road.
That, plus the fact that it didn’t work, makes Bernanke one of the sorriest Fed chairmen since Arthur Burns gave us the inflationary 70’s. And if Bernanke’s not careful in how he unwinds the trillion dollars of excess reserves he’s provided the banking system under the two QE’s, he’ll be responsible for an inflation that will make Burns look good by comparison.
OK. So what is the reason to get people into debt?
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