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Bernanke’s ‘Cash For Spelunkers’ Sputters To An End
IBD's Capital Hill ^ | 6/8/2011 | Jed Graham

Posted on 06/08/2011 8:38:48 AM PDT by Slyscribe

Back in November, when gold was priced $200 lower and the Federal Reserve was about to embark on a second round of asset purchases, Capital Hill dubbed the policy “cash for spelunkers.”

Now, as the Fed printing press winds down its current run and the economy finds itself back in a soft patch, the moniker and the prediction behind it seem on target:

Like “cash for clunkers,” the housing tax credit and other attempts to provide short-term fuel, the Federal Reserve’s second round of quantitative easing can only buy a little time to fix what ails the economy.

(Excerpt) Read more at blogs.investors.com ...


TOPICS:
KEYWORDS: bernanke; commodities; debt; default; economy; federalreserve; globalism; obama; obamanomics; qe

1 posted on 06/08/2011 8:38:53 AM PDT by Slyscribe
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To: Slyscribe

If Bernanke had a “real job” he would have been fired a long time ago for incompetence. Just like his predecessor, it seems he could not predict tomorrow’s sunrise.


2 posted on 06/08/2011 8:45:10 AM PDT by NWFLConservative (Game On!.................Saracuda 2012)
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To: NWFLConservative
If Bernanke had a “real job” he would have been fired a long time ago for incompetence.

Bernanke's real job is to please the federal government, not to economically benefit the American people.

3 posted on 06/08/2011 8:50:46 AM PDT by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Slyscribe
can only buy a little time to fix what ails the economy.

It is not "buying a little time to fix" anything other than to allow the pols and the bankers to further strip the assets of the rest of us and get it protected for the collapse. All the funny money is exacerbating the problems and putting off the reckoning but making it much worse with ever dollar that puts it off.

4 posted on 06/08/2011 8:53:42 AM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: arthurus

every


5 posted on 06/08/2011 8:54:17 AM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: Moonman62

And for that the Ben the Master Fellator should get employee of the year.


6 posted on 06/08/2011 9:05:02 AM PDT by NWFLConservative (Game On!.................Saracuda 2012)
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To: Slyscribe

Can any one make a video of Bernanke saying the economy will get better and then the recent video if Bernanke admitting he was wrong. If this video could be made, then it would probably go viral. We need people in Washington that know what they are talking about. It’s time they be held accountable.


7 posted on 06/08/2011 10:34:55 AM PDT by Sprite518
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