Quantitative Easing

[Glenn Beck 3Nov10] "...[T]oday, the Fed announced that they are going to spend — now, this is the Fed — they are going to buy government debt. They're going to buy treasuries themselves. That's $600 billion to government debt.

Let me show you something — when the Fed says they want to buy it, this is an IOU. It says this is a Federal Reserve note. It's what it says, a Federal — right at the top — Federal Reserve note. This is the Fed promising you that they will give you a dollar — of gold. It used to be gold or silver. Not anymore.

They are going to buy now, the Fed, $600 billion. This is what they call quantitative easing. I know what you're thinking: I'm sure my neighbors don't know what quantitative easing is.

Here it is, simple definition: The government buys stuff to stimulate the economy. OK. You're now thinking that's not new for this administration. You'd be right. But there is a difference here.

Quantitative easing of this kind, where we are buying our own debt and printing the dollars to be able to buy that debt is really kind of the last bag of antibiotics..." Full text: Glenn Beck transcript

We know, Glenn Beck throws puppies off of bridges. What do you think of quantitative easing? Love it? Hate it? Love to say it "quantitative easing"? Gen. 31:15.
 

Response to comment [from a Christian]:  "It's called monetization of debt..."

That too.

"...and devolves to printing more devalued money."

Guess that's why gold is up...again.

Sooner or later the fed will have to acknowledge that constantly increasing the money supply is not creating the activity they are seeking.

Think they know that?


[Who knew? ] If you were my neighbor I'd say the same thing.

Won't you be----my neighbor...

"Glenn Beck (this time) "

Still, we can do without the--cans in your basement--Mormon thing, am I right? 

Response to comment [from a Christian]:  "Quantitative easing is the policy that most economists back in the current circumstances. While it has inflationary affects in certain environments, it won't in this one. We are teetering on deflation, as most reputable economists note..."

"I think he's talking to you." ~ Homer Simpson

"No serious economist has any problem with QE."

By "serious" do you mean serious leftist? Gen. 31:15.

Response to comment [from a Christian]:  "SD, So, you think, had I been prudent, I should have passed on the 40$ Hughes net and stayed with Wild Blue at 60$?"

I'd go with this one.   

[The Fed’s “War on Wealth” and the Risk of Default By Cliff Kincaid] "Charles Ortel, managing director of Newport Value Partners, tells Accuracy in Media in an exclusive interview that the Federal Reserve plan to buy $600 billion of U.S. Government securities “borders on the criminal” because the impact will be the devaluation of the dollar by 20 percent and the destruction of $10 trillion of household net worth.

“Any potential benefit to GDP and incomes [from the Fed’s action] pales in comparison to the wealth loss (in real terms) and to the damage done to foreign investor confidence,” Ortel says.

Ortel, who has been critical of U.S. economic and monetary policy under President Obama, fears that “investors will run faster from the dollar and we may soon experience the sizeable pain that comes when foreign capital rushes for the door.”

Ortel has publicly warned that the Obama Administration has been pursuing what amounts to “destructive” policies that endanger the American capitalist system through rising levels of government debt and spending..." Full text http://www.aim.org/aim-column/the-fed%e2%80%99s-%e2%80%9cwar-on-wealth%e2%80%9d-and-the-risk-of-default/

You libs sure like to gamble.

Quantitative Easing