What do you call it when you keep doing the same thing and expect a different result? Ben has now pushed the zero interest rate environment out to mid 2015, and will buy mortgage backed securities to the tune of 40 BILLION dollars a month into the foreseeable future. WOW! And in his news conference, he basically said "if the sheeple feel their house value is going up, they will feel richer and spend more"! How does this effect unemployment? Not much really. But it does three things really well...It keeps poor older folks from getting any money from their savings, it keeps banks afloat by giving them free money that they still won't loan out, and it inflates the living crap out of food and fuel. He also finished with the statement that if washington can't fix the fiscal cliff issue, he doesn't have the tools to stop the next recession, or the continuation of this depression. Sooner or later, we will recreate a stagflation environment like we had in the fabulous 80's. Washington won't stop the fiscal cliff before the election, and it is doubtful that they will find some reasonable compromise soon thereafter. What will it actually take for the sheeple to get to a point where they see that their interests are being completely ignored bye washington, put an end to the buying of politicians by corporations and the rich, and actually create a government that represents the needs of the majority of the american people.....
1 comment:
Crazy times...You're going to have to come out of retirement and deliver drugs for the cartels with your scooter.
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