Obama, the Fed mismanaging U.S. economy

[ColonialMarine0431]

Great OP-ED piece in today's paper. 

Obama, the Fed mismanaging U.S. economy

I'll give President Barack Obama credit for signaling that he will abandon temporarily one aspect of his crazy economic philosophy.

It appears the president will at least allow the George W. Bush tax cuts to remain in place for some additional period of time. That's a smart move for him because everything else the administration and the Federal Reserve are doing appear to be setting us up for another economic disaster.

CNBC reported: "The Fed plans to print enough money to buy an average of $75 trillion in treasury bonds each month for eight months. ...

"The ... program is intended to energize the economy by forcing down long-term interest rates. Those lower rates might encourage some consumers to borrow and spend more."

The idea that making it cheaper to borrow money when rates are already at all-time lows is just plain nuts. Sure, the banks have cheap cash. But just go and try to borrow any of it.

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[littlelamb]

Just amazing

[cmypay]

well, HE can't possibly bear any responsibility

[5412]

Great OP-ED piece in today's paper. 
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Hi,

I think this meant to say $75 billion per month, not trillion.

regards,
5412

[ColonialMarine0431]

Hi,

I think this meant to say $75 billion per month, not trillion.

regards,
5412

Yes. He missquoted.

[true_blood]

Obama, the Fed mismanaging U.S. economy
CNBC reported: "The Fed plans to print enough money to buy an average of $75 trillion in treasury bonds each month for eight months. ...
"The ... program is intended to energize the economy by forcing down long-term interest rates. Those lower rates might encourage some consumers to borrow and spend more."

All to just collapse the system to put in place a New World Order. George Soros and the imposter are determined to do this.
Keep rates low so people can borrow and spend more?!?! With all this uncertainty and anxiousness around?!

[Allentownjake]

All to just collapse the system to put in place a New World Order. George Soros and the imposter are determined to do this.
Keep rates low so people can borrow and spend more?!?! With all this uncertainty and anxiousness around?!

Well yes that and standing in the way of economic consequences for wealthy people who made terrible decisions and not prosecuting pure and simple cases of fraud in the finance industry in the MBS market from origination to securitization and you have a recipe for capital flight scenario the world has never seen when you mix in monetizing your debt.

These people are either the dumbest people in the world or are intentionally destroying the United States Economic structure.

In order to have capital information you need

1) Stable medium of exchange/currency

2) Stable government

3) Stable enforcement of the rule of law and the prosecution of theft either done by a thug with a gun at the 7-11 or a guy in a 3 piece suit with a bloomberg terminal.

You mess with any of those things, capital formation dies and your economy dies with it.

I hardly see how when consumer prices and local taxes have been increasing it is a good idea to try to create inflation, unless your sole interest is to paper over the losses of a few players who made some really bad bets/committed fraud.

[true_blood]

Well yes that and standing in the way of economic consequences for wealthy people who made terrible decisions and not prosecuting pure and simple cases of fraud in the finance industry in the MBS market from origination to securitization and you have a recipe for capital flight scenario the world has never seen when you mix in monetizing your debt. These people are either the dumbest people in the world or are intentionally destroying the United States Economic structure.

We have BINGO!
After all the bailouts/bills passed and money thrown around to help "revive" the economy and we're still going down the wrong path? There is a reason behind this.

[Duke Nukum]

So much about the Obama era reminds me of Atlas Shrugged.  A bunch of people who shouldn't be entrusted to the office of Dog Catcher are running an economic system they can scarce comprehend.

[ColonialMarine0431]

Of course, Soros wants a collapsed economy...

AIM (Accuracy In Media) has been warning for years about the intentions of Soros, noting in a 2004 report that he “specializes in weakening or collapsing the currencies of entire nations for his own selfish interests.”

We noted, “Despite his vision of an ‘open society,’ he operates an unregulated ‘hedge fund,’ open only to the super-rich.” His Soros Fund Management is a member of the “founder’s council” of the Managed Funds Association (MFA).

Diamond said that as Soros is betting on a U.S. financial collapse, his net worth and the amount of money under the management of his hedge fund have ballooned. The money that Fed chairman Ben Bernanke is putting into the economy, Diamond said, is designed to “replace the stolen money from American families and the capitalist corporations” under the cover of the financial crisis.

The collapse of capitalism will be “a big pay day for George Soros and members of the Managed Funds Association,” he said. “They are betting against the dollar and moving assets to gold and to the emerging economies. They are betting against U.S. survival as a capitalist nation.”

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[Allentownjake]

So much about the Obama era reminds me of Atlas Shrugged.  A bunch of people who shouldn't be entrusted to the office of Dog Catcher are running an economic system they can scarce comprehend.

I think there should be a basic economics questionnaire before anyone is allowed to run for political office that gives them the authority to tax, cut taxes, or authorize the spending of government funds.

If the person comes out a Keynesian they should be denied ballot access.