Qauntitative Easing 3....open ended.
Wells here we go again. The Fed has all but admitted that the waste of flesh in the oval office is completely incompetant. For those of you who dont see a problem with this let me explain what the Fed is doing.
They are pumping billions of printed and borrowed capital into the market by buying morrgage backed securities and purchasing bonds from......themselves.
Yup. Its called monetizing your debt and its ridiculously stupid. But its all Obama knows to do. To him only government can solve this issue.
I guess third times a charm.
The more we print money the less the money in your pocket is worth. Also look for our credit rating to be down graded. Whats that mean ¿ Well if nobody buys our bonds how do we run our Country ???
SS Checks ? Nope. Paychecks for the military our spending ? Nope.
Medicare payouts ? Nope.
The truth is there is nothing they can do after this. This is their last hope.
Also for those who know how our monetary system works the way you retrieve all of that worthless money when inflation goes to double digits is raise interest rates through the roof. It gaurantees a longer recession or depression. Stock market loves it though but then again when inflation rises its just Monopoly money. Yep.
Its a campaign speech being made by Bernake for Obama right before the election and it will do far more harm than good.
Monetizing your debt is the last thing a Country does before their economy completely collapses.
Thanks to all the dumbsh#*t Obama voters and the international leftist lovers who hate America.
Dont be so thick to think this wont affect you. Americas economy collapses and the world economy is right behind it.