A Benny for the Old Guys?
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.
---from T.S. Eliot's "The Hollow Men"
A Benny for the Old Guys?
This is the way the world ends
This is the way the world ends
This is the way the world ends
Not with a bang but a whimper.
---from T.S. Eliot's "The Hollow Men"
And on it goes....money for the “big banks” and realty market.
America has become the “drunk sailor” in port with a visa card without any limits.
Obama and his minions have certainly guaranteed that China will not have to invade us to take us over.
It’s not done by military might...it’s done by credit card.
0bama does not need QE4 to reduce the unemployment rate ,, one call to the MSM stating the current rate of U/E is now at 3.6% should do it . What good is a corrupt govt. if you can’t fudge the numbers and pass them along to the water carriers ???
Surprise News Flash: “The proven failure of ‘Prime-the-pump’ Keynesian Economics is STILL denied by Bernanke!”
“THE OVERSPENDING WILL CONTINUE UNTIL WE HAVE NO MORE DEBT !”
(Duh, the problem IS the Overspending, Professor of Economics Bernanke - - - ).
Make no mistake, the Fed is using $$ created out of thin air to buy 80-90% of US Treasuries. Why? To keep interest rates down so our exploding deficit remains nominally affordable. The Banks also benefit because the Fed buys their underwater mortgages on the promise that they will likewise purchase “risk free” US Treasuries.
But this free money is not cheap. Its being paid for by savers who can’t get decent interest on their CD accounts. It also WILL be paid for by investors who are forced to take on more risk to get any kind of return. It also distorts market dynamics as Banks don’t need to make loans to anymore. In short, its stealth wealth transfe. No law — or smoking gun of any kind — is required.
...the Bernack will then fold up his tent, retire to the Bahamas and live happily everafter.....when what he needs is to be dealt with "at the most populous intersection of the town at high noon".....
..these people need to pay a price for being wrong:
It is hard to imagine a more stupid or more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong.
Thomas Sowell
Does the House fund the Fed?
Bernanke is part of the Bush legacy.
Printing money could actually be a beneficial strategy of deleveraging to mitigate the pain of austerity if the fiscal cliff does send us over the edge. But I am not an economist and have no idea really...
The Gods of the Copybook Headings
AS I PASS through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all.
We were living in trees when they met us. They showed us each in turn
That Water would certainly wet us, as Fire would certainly burn:
But we found them lacking in Uplift, Vision and Breadth of Mind,
So we left them to teach the Gorillas while we followed the March of Mankind.
We moved as the Spirit listed. They never altered their pace,
Being neither cloud nor wind-borne like the Gods of the Market Place,
But they always caught up with our progress, and presently word would come
That a tribe had been wiped off its icefield, or the lights had gone out in Rome.
With the Hopes that our World is built on they were utterly out of touch,
They denied that the Moon was Stilton; they denied she was even Dutch;
They denied that Wishes were Horses; they denied that a Pig had Wings;
So we worshipped the Gods of the Market Who promised these beautiful things.
When the Cambrian measures were forming, They promised perpetual peace.
They swore, if we gave them our weapons, that the wars of the tribes would cease.
But when we disarmed They sold us and delivered us bound to our foe,
And the Gods of the Copybook Headings said: “Stick to the Devil you know.”
On the first Feminian Sandstones we were promised the Fuller Life
(Which started by loving our neighbour and ended by loving his wife)
Till our women had no more children and the men lost reason and faith,
And the Gods of the Copybook Headings said: “The Wages of Sin is Death.”
In the Carboniferous Epoch we were promised abundance for all,
By robbing selected Peter to pay for collective Paul;
But, though we had plenty of money, there was nothing our money could buy,
And the Gods of the Copybook Headings said: “If you don’t work you die.”
Then the Gods of the Market tumbled, and their smooth-tongued wizards withdrew
And the hearts of the meanest were humbled and began to believe it was true
That All is not Gold that Glitters, and Two and Two make Four
And the Gods of the Copybook Headings limped up to explain it once more.
As it will be in the future, it was at the birth of Man
There are only four things certain since Social Progress began.
That the Dog returns to his Vomit and the Sow returns to her Mire,
And the burnt Fool’s bandaged finger goes wabbling back to the Fire;
And that after this is accomplished, and the brave new world begins
When all men are paid for existing and no man must pay for his sins,
As surely as Water will wet us, as surely as Fire will burn,
The Gods of the Copybook Headings with terror and slaughter return!
Why hasn’t someone in Congress stood up and offered legislation that cuts Dollar for Dollar the exact amount Beneke prints each month?
It’s not QE4 — it’s QE Forever, or until unemployment falls below 6.5%, whichever comes first.
With employers about to suffer from a significant decline in the amount of money they will be permitted to keep, thanks to the end of the Bush tax cuts AND the expensive costs of complying with ObamaCare, they will have to let employees go, which will increase the unemployment rate, and 6.5% unemployment will increasingly seem like an impossible dream.
Ben Bernanke seems to believe that if he prints enough money, we can avoid catastrophe. In that case, why doesn’t he advise the Europeans to force Greece out of the euro so it can create its own currency and then print enough of it so that the Europeans won’t have to keep bailing the Greeks out and everything will be wonderful? If Mr. Bernanke believes that, he shouldn’t even be running a little bank in Peoria, let alone the Federal Reserve.
Or maybe Ben Bernanke believes that the U.S. is so superior to other countries it doesn’t have to comply with the iron rules of economics that govern lesser nations like Greece, or Zimbabwe, or Germany under the Weimar Republic. If Mr. Bernanke believes that, he also shouldn’t be running the Federal Reserve, he should be in a mental institution.