>> What will this do to a middle class whose savings have already been eviscerated
Oh, it’ll positively SCREW those who play by the rules, borrow carefully and wisely, save their money, and live within their means.
It’ll REWARD (for a while) speculators, debtors, the profligate, and most of all, it’ll spare the government of paying proper interest on the unfathomable wads of money they borrow and waste.
Bernanke is a criminal.
Some of the comments over there:
by Vampyroteuthis ...
on Thu, 11/04/2010 - 21:07
#701706
Helicopter Ben is not a “madman”, he is just unleashing his weapons upon the world. Who are we kidding? Here are the results of the money drop.
1) China is going to have more inflation from commodities surging and the dollar peg. Whatever wealth is there will soon be eaten away.
2) Countries on the verge of default will be pushed closer. They are now priced out of exports to the US and China will undercut them. Europe and Japan are in this boat. Europe most likely will force a PIIGS country to default and leave the Eurozone. The Euro crashes and the dollar spikes.
3) Someone has to keep rolling over the excessive US gov’t debt. Who want to roll over $100 billion+ a month?
4) Wall Street got what they wanted, free money. If everyone is on one side of the trade though it will go the opposite. In this case, market crash wiping out the smaller investors at expense of the big boys.
Never underestimate the enemy.
I’m afraid we’ve moved past the point of criminality.
We’re now at the point where the Federal Reserve and the large banks they’re serving are a “clear and present danger to the security of the United States.”