I am not sure that the Fed has any choice. How else can the Fed finance our growing debt? Perhaps if the fed refused to stop financing our growing debt, politicians would listen. Of course, we should stop unsustainable spending. The actions of the fed seem irrelevant if we do not break our spending addiction. With the widespread belief that government spending is a free lunch, I see little hope to reform the addiction. The public should believe that government spending is a free good because it has been a free good. The end of the era of free government spending is fast approaching.
[The actions of the fed seem irrelevant if we do not break our spending addiction.]
But . . . the spending addiction will continue as long as the Fed can print wallpaper money. The crash is coming, many now know this is the case, but the vast majority are ignoring the Tsunami, wading out to pick up pretty seashells.
What?
The world is awash with dollars. Flooded, stuffed. The Fed is ‘printing’ money because ....who knows. Revolt? Fedgov and the Mini-me’s of the states, cities, municipalities would have to pay 100% or more to attract investors. IE, like the rest of us slobs. This would further rustle the sheeple.
Instead the Fed and Washington prefer to ruin dollars, steal from savers and future generations.
I agree about the spending however the interest we pay the Fed could be eliminated our Constitution allows us to coin our own money and that interest we pay them is a huge expense.
Why is it the Fed's responsibility to bail out Geithner and the whores? In the old days, the banks didn't like the government. Today, they are lip to... well, I can't say on this family forum... but, you get the idea. The Left now owns the banks...