Posted on 07/09/2011 6:43:10 AM PDT by Kaslin
Last November, the Federal Reserve Bank announced that it was ramping up the printing presses one more time in an effort to "stimulate" the economy.
The plan was called Quantitative Easing-2, QE2 – a high-falutin name that suggested most of us commoners couldn't possibly understand it, nor should we even ask questions.
QE2 was the $600 billion sequel to the first big run that the Fed had taken at jolting the economy back to life. When added to QE1, $2.3 trillion was pumped into the economy; a completely unprecedented effort.
The flood of newly printed cash from QE2 was supposed to stem fears of deflation, keep interest rates low, and give a shot in the arm to the stocks and bonds market.
Job growth, the fed said would follow.
The QE2 spending spree ended in June much as did the first effort at "monetary easing" with nearly nothing to show for the trillions spent other that a bunch of befuddled big shots in Washington.
Even Fed Chairman Ben Bernanke admits he can't explain why nothing seems to work. Like unapologetic addicts some so-called economic experts are calling for a QE3.
The editors at the Wall Street Journal offered the following succinct summation of the Fed's quantitative easing efforts:
"They succeeded in putting deflation worries to rest. But economic growth is slower now than it was when the program was enacted, the job market has sputtered after a spurt, and the financial-market impact has been a mix of good and bad. Stock prices are higher and corporate-bond yields lower, which helped growth. But prices for oil, grains, and other commodities have surged, pinching consumers…In all, the economy looks to have grown at a 2% annual rate in the first half of the year, the slowest six-month stretch of the recovery."
Government has an obsession to "do something" whenever a problem arises.
But, as Ronald Reagan was fond of saying, when government intervenes they usually "fix it until it's broken."
Whether it's the politicians on Capitol Hill, in the White House, or the bankers at the Fed, it's time they accept that what they've been doing didn't work.
You simply can't borrow and spend yourself wealthy, and it doesn't work for nations and governments either.
” Because their Marxist/globalist cronies, colleagues, peers, old-boys club are in virtually ALL the key positions of power and they take very good care of one another. “
Folks, we have a winner!
Thanks for your kind reply.
Just tellin it like it are ;-)
Prosecute him for insider trading OR appoint a special prosecutor. Because, it is the right thing to do....something unknown to the tax-evader-in-chief, Timmy Geithner.
I think you mean well, but that is false. It is a favorite line of Democrats who want to spend more and more tax revenue.
People actually in business know that taxes kill profits and taxes take the money that could be used to employ more people to expand the business. I was in business and I know whereof I speak. I hope you see the light.
Did you actually READ what I wrote?? I hardly think that acknowledging that ALL taxes are paid by individuals...the only difference between direct taxes and indirect taxes are who does the "collecting" is something the Democrats argue. Their argument is that "those nasty rich people who own the businesses are the ones that pay "business taxes"", hoping that the dunces who support them never realize that "that ain't so"."
"People actually in business know that taxes kill profits and taxes take the money that could be used to employ more people to expand the business. I was in business and I know whereof I speak. I hope you see the light."
As one CURRENTLY in business, and part owner of a small, but successful company, I think I "might" have an inkling of what is involved. What kills business is the constant increasing overhead of having to do "stuff" that isn't directly oriented to producing product for a profit, whether that be enforcing all the regulations or acting as a tax collector for the gov't.
Yes I did. You wrote that there is/are no taxes on American business. That statement is ludicrous. Of course there are taxes on American business: Federal, State, FUTA, SUTA, Employee taxes, property taxes....to name only a few.
Taxes have to be paid out of the revenue the business generates. If the taxes are "high", the profits are lower and the business is hampered from expansion, hiring, paying better wages, improving prioduct by R&D, improving distribution, etc.
So where do we disagree? Businesses pay taxes. If you mean businesses do NOT pay taxes where is all that money going that they take from me every quarter? I call it taxes. What do you call it?
It goes to government, of course, and what I call it is "tax collection". ALL taxes, whether directly collected by government taxing authorities, or indirectly by businesses, are paid by individuals. Any "tax" on business gets passed on to the business's customers in one form or another, either as higher prices, or lower levels of service.
The idea that business actually pay taxes is one of the biggest successful lies of the "progressives".
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