Gosh, I wonder what's coming next?...
Posted on 08/23/2009 3:37:35 PM PDT by 1rudeboy
Ya think?
“Selgin says the bailouts of investment banks, insurance firms and troubled TARP banks, plus the unprecedented lending to non-financial companies have been counterproductive and delayed the recovery.”
When I say that the “Fed saved the economy,” I don’t means with those bailouts. I give Congress and the Treasury Department credit (and the blame) for the bailouts. What the Fed did was pump more than a trillion dollars into the economy within a few weeks. That is what prevented a Depression sized collapse—not the bailouts. But now the Fed has got to figure out how to siphon off all that money without causing interest rates to skyrocket. That may be a bigger trick.
Nattering nabobs of negativity? When unemployment is down for 12 months straight we'll talk. My bet is somewhere in 2012......of course we could print more money and string it out til '15.
>>As consensus builds that the recession is over<<
Reminds me of the global warming consensus. We’ll see, soon enough in this case.
The very existence of the consensus tells me it ain’t over.
... Bernanke has exposed his idiocy on more than on occasion. The latest was this past Friday, 8/21, when he said "After contracting sharply over the past year, economic activity appears to be leveling out, both in the US and abroad, and the prospects for a return to growth in the near term appear good." Source.The Fed should be audited. If for no other reason than because Bernanke is an idiot. And an idiot has no business running an enterprise like the Fed.
Audit the Fed hard.
Maybe if Bernanke tries clicking his ruby red slippers together while saying “the recession is over” then that will turn the trick?
>>That is what prevented a Depression sized collapse—not the bailouts. But now the Fed has got to figure out how to siphon off all that money without causing interest rates to skyrocket. That may be a bigger trick.<<
IOW, they put off the inevitable for a few weeks/months. And the longer they try to put it off, the more my tagline applies.
“As consensus builds that the recession is over,...”
I guess this is by the same consensus builders who have foisted the globull warming and massive, world-threatening CO2 propaganda onto a largely undereducated public.
I have yet to see someone explain, concisely, what auditing the Fed would accomplish.
This is why besides my call for a complete kiboshing of our current income tax system through repealing the 16th Amendment and replacing the Internal Revenue Code (Title 26) with FairTax, we need these financial system reforms:
1) Require actual liquidity backing to trade in new, "exotic" investments like hedge funds, derivatives, and default credit swaps.
2) Raise the minimum margin requirements for trading in stock futures and commodities futures from 5% to 15%, with as high as 25% on strategically critical items like crude oil, natural gas, certain foodstuffs, certain industrial metals, and precious metals.
3) Revise the Sarbanes-Oxley Act to better balance the need for initial public offerings with account reporting requirements.
4) Reimpose the full provisions of the Glass-Steagall Act to protect bank assets from the ups and downs of the stock market.
The Fed has billions of our tax dollars it can’t/won’t account for.
I’d like to know where my money went. Wouldn’t you?
The Fed doesn't have any of our tax dollars.
I’d like to know where my money went. Wouldn’t you?
I'd like to know where you get your info.
It's already been printed, or rather, created. Just wait for the inflation. Can't tell you how soon it will show up in the Gubmint numbers, because they'll be busy cooking those like never before. But it is coming.
Gosh, I wonder what's coming next?...
Well, I can tell you that it's already starting to show up at the stores. A little price bump here (Smart Balance Buttery Spread up $.40 or so), a little smaller package there (Carolina Pride Smoked Sausage from 16 to 14 oz.) and pretty soon, you're talking real inflation.
it’s arrogant when the u.s. congress and former goldman sachs employees
created the mess.
The Fed creates money out of thin air, thereby decreasing the purchasing power of every dollar in existence. As someone who has spent his lifetime doing the right thing, saving for my future so that I can take care of myself and my family, it would be nice to know who receives these dollars created out of thin air, since they are the ones who benefit from monetary inflation - since they are the ones stealing some of the the purchasing power of every dollar I have ever worked to save.
Is this one of those Charlie Brown fake-outs?
The Fed doubled their balance sheet, have prices doubled yet? Why not?
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