The Obama administration doesn’t have a clue what is broken much less how to fix it. The Fed took over the reins yesterday and doubled down. We’re in for a very rough ride. Please explain if you think differently, I am very much open to a more positive interpretation. Right now I’m pretty freaked out at the Fed’s actions.
Ah yes Chgogal, humpty dumpty right? What a mess...
Think how IMPRESSED and amazed you’ll be when Obama fixes this?! He’ll be your personal savior, best friend...
Sorry, you and everyone else are being duped beyond belief. Granted, I’ll credit these jokers as pulling off the greatest heist in the history of mankind. It makes everything else look miniscule in comparison.
Of course, Obama is just the useful idiot they let be the face of this thing. The they is Soros, the powerful democrat socialist establishment, and some others I suspect but will not name. True evil is at work.
But hey, in a little while, when things are much better, you’ll forget, and feel much better. Hey, we can go back to complaining about petty things instead.
All the fed did was buy bonds off the street. By taking the bonds off the street, they put cash into the hands of the former owner, and drove rates down to the point where the cash holder should find “something better to do”. And what is so bad about that?
Right now, imagine the left side of your room with 10 trillion dollars, in 100 dollar bills. On the other side of the room, imagine deflated bonds, stocks and real estate.
What you going to do with that 10 trillion paying you zero interest, but making the bank rich?
Yes, I have to agree 100%. I don't want to pick a fight with Professional because I think much of what he says is legitimate. But, Obama is not going to turn this around - even if he wants too, and I think that's probably debatable.
We are going to see such inflation because of our "magical" monetary supply, it may be unprecedented for a stable western democracy. Then, what's China going to do when they see their American nest-egg fall off the cliff?
Things are bad and are only going to get worse and it is completely out of Obama hands so long as he continues to spend like a drunken sailor the night before the ship's due to pull out of port.
Listen, we're not even a 100 days in, and he's already spent $1.3 trillion - hasn't touched health care, hasn't touched education, hasn't touched the "poor". And, he's already promised the largest tax increase in AMERICAN HISTORY while the country is staring down the biggest recession of the last 69 years. The country is in a flat spin with a rookie pilot.