an oliver twist to you.
Joe here is a lefty,Nothing is ever wrong in Obama land that Printing money will not cure!
He neglects to mention a key factor that is destroying our confidence in the economy and dragging the nation over a cliff: the avalanche of needless regulations that are crippling American industry. This regulatory burden is not going away anytime soon. And then there's the crushing deficit, another confidence killer.
There is another post or elsewhere on the net describing Goldman’s report to it’s high volume clients that states a rather different scenario-— a complete crash in early 2012.
So this little bit of pablum must be for the “consumer” investor.
Got anything on that other report from Goldman? Seriously.
Might be on zero hedge or seeking alpha, but I caught it in passing.
One man’s “twist” is another taxpayers “screw”.
Goldman does NOT move the economy, all of US as investors do.
Goldman can spew all they want, the economy will follow all of US, not what Goldman says it's going to do.
Goldman is famous for screwing retail investors with bait and switch tactics. Mr. Tilton does nothing to disturb this view.
1. The US economy has fallen off a cliff, leading to the “confidence shock” precipitated by the debt ceiling impasse, the downgrade of the US sovereign rating, and the financial market turmoil of recent weeks.
2. The August employment report was weak and very recessionary. The payroll survey was very disappointing, with no job growth, a drop in weekly hours, and a decline in hourly earnings. The unemployment rate held steady at 9.1%, an abysmal failure.
3. So far in the third quarter, the truth of economic activity looks far worse than our forecast of 1% real GDP growth (annualized) and “soft” measures such as business surveys look weaker. We are in a double-dip Recession.
4. The economy’s growth performance figures so far in 2011 are entirely fraudulent which is woefully unacceptable given the high level of unemployment. We expect the Fed to take further action at its September 20-21 meeting, most likely by announcing a bastardized form of QE3, but it will be called something else so stupid Americans won't realize that we are simply printing more money.
5. We expect the impact of such a balance sheet “twist” to be similar to QE2. Given widespread speculation of further Fed action, and a very dovish set of minutes from the August meeting, we believe that Americans are complacent and have been completely fooled at this point.
The twist is $1900 gold again today. The QE is going from short term to long term. The US cannot afford the interest on $15 trillion debt. So, print money, loan it long term to the government at low rates, and with no stimulation in demand, low interest rates long and short term, continued high unemployment, continued triple deficits, continued gold prices rising, continued weakening dollar and euro and relatively robust oil prices. Stagflation without the flation.
Smoke and Mirrors.
What are Bernanke and Obama up to with over a $2 trillion increase in the money supply (quantitative easing) under Bernanke and $4 trillion increase in our national debt under Obama?
“Whosoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.”
Shortly afteer releasing this statement President Garfield was assassinated.
http://www.xat.org/xat/moneyhistory.html
The FED should not have the power to control the volume of money. Pass this information on to everyone you can...