She's almost too good for y'all.
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 11/07/2010 2:32:50 PM PST by Al B.
As President Obama prepares for the G20 summit in South Korea this week, Sarah Palin is challenging the Federal Reserve’s monetary policy, which will likely be a key issue at the talks. On Monday, in a keynote address at a trade-association convention in Phoenix, Palin will urge Fed chairman Ben Bernanke to “cease and desist” his “pump priming.” The United States, she says, “shouldn’t be playing around with inflation.”
I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.
The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.
And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?
All this pump priming will come at a serious price.
(Excerpt) Read more at nationalreview.com ...
deeply concerned about the Federal Reserve's plans to buy up anywhere from $600 billion to as much as $1 trillion of... treasury bonds. And where, you may ask, are we getting the money to pay for all this? We're printing it out of thin air.
I love your idea!
Sarah Palin is the first high profile Republican to come out and say “Hold your horses, Bucko” to Bernanke. Where’s the GOP Leadership? Thank heavens for Sarah!
She's almost too good for y'all.
Glenn Beck is doing a show on “Spooky Dude” George Soros on Tuesday.
Glenn and Sarah are BFF. Wonder if they aren’t coordination the message here. W00t!
Have you noticed the election’s over and she’s starting in on policy? The ‘oh-so-smart’ wonks in DC are gonna be sick of her policy statements in short order.
Sarah shifts into third gear and continues to accelerate.
Both Reagan & Lincoln were born in February.
Sarah Palin was also born in February.
Hmmmm....
“Snow”, I agree with you on both Denninger and Zerohedge. These guys are permanent doomers and their investment advice has been terrible the last two years.
On QE2, I oppose this, but I don’t think it will have any dramatic effect.
Note that the same people that forecast that QE1 would be the end of the world, (Schiff, Denninger etc.) haven’t said much about how QE1 was reversed out with no hyperinflation, or anything close.
For those that think Denninger knows what he is talking about, check this gem from 2009
http://seekingalpha.com/article/150898-holy-cow-look-at-the-treasury-auction-schedule
LOL Love the picture!
Interesting, also, how she’s been feeding material to NRO.
I think so, too. 2 post-election pieces in a row have been fed to them.
Don’t forget Washington!
Bernanke floated the idea of QE2 around the 1st of August.
Since then most commodities, stocks, and bonds have increased in price.
Gold on August 1 was $1182 and today it is $1395 is but one example of how QE2 affects prices.
So as I see things Bernanke is making like worse for those whose income is shrinking. Their cost of living is going up, but their incomes are not.
This is why tax cuts are a preferable way to handle recessions. The individual’s incomes are not hurt as much in a recession when a tax cut is enacted.
But....But.....We need Sarah as RNC chief where she can be better effective, not a run for President where we got plenty of guys discussing the right issues! /s
I don’t know if Sarah reads them she just might be far more intelligent and realize these things all on her own. Either way I am impressed by her knowledge I wish more conservatives would join her on this issue.
In any case I like those sites this is something I wonder if many people realize?
Now they’re at it again. First, Ben Bernanke imposed, without a vote, a tax on the American People of over $1 trillion through his original “QE “ game. This went immediately into commodity and stock prices worldwide but was in fact a tax on you, and on every productive business. This is the reason that unemployment remains at close to 10%. By now we should be well on our way to recovery. The government blew $600 billion on stimulus programs. They got nothing for it because of QE, which took it all back out, plus more through the tax - a tax that went directly into the bankers pockets. This unlawfully-imposed tax was used to cover the banks’ insolvencies, along with the blatant extortion practiced by Rep. Kanjorski on FASB (who, incidentally, lost his seat Tuesday.) But the banks did not clear their balance sheets - they are, in fact, still insolvent. Instead, they literally took the money and paid it in bonuses.
Now that the banks are once again running out of money Ben Bernanke is at it again. He has announced another $600 billion in illegal taxation on America, and intends to give it again to the bankers. A good part of it already showed up in oil and other commodities. The rest of it will. It is guaranteed. The “benefit” will go overseas. The tax will fall on you.
THIS IS THE LARGEST TAX EVER IMPOSED ON THE AMERICAN PEOPLE IN THE HISTORY OF THE NATION. IT IS MORE THAN FOURTEEN TIMES THE BUSH TAX CUTS “ON THE RICH” THAT EVERYONE IS DEBATING. GOLDMAN SACHS BELIEVES THAT BERNANKE WILL IMPOSE A TOTAL TAX THROUGH QUANTITATIVE EASING OF MORE THAN FOUR TRILLION DOLLARS OVER THE NEXT TWO YEARS, OR MORE THAN FIFTY SEVEN TIMES THE BUSH TAX CUTS.
In full http://market-ticker.org/akcs-www?post=171263
More Glenn Beck On Devaluation
He “gets it.” Will you wake up America?
http://www.youtube.com/watch?v=s2t5YSl44dU&feature=player_embedded
What? When was QE1 reversed out? AFAIK it was a permanent addition to the base money supply.
Are you sure you know what you’re talking about?
Thanks, I was beginning to think that I was the only conservative who'd noticed. IMHO Palin's just messing up by trying to score points on some new hot-button issue, and it's just looking like another bridge to nowhere.
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