In yet another round of “Quantitative Easing,” Ben Bernanke announced the Fed’s intention to buy $40 billion dollars a month of mortgage-backed securities for however long it takes to bring down unemployment and get the economy jump started. Really?
Isn’t it interesting how this decision comes just 53 days before the most important presidential election of our time?
Moreover, did we not learn anything from QE-1 and QE-2? Besides the worst economic recovery in American history, we also have hyper-inflation on the horizon to go along with 11,000 baby boomers being added daily to an already burgeoning Medicare system.
We are $16 trillion dollars in debt; we are borrowing .42 of every dollar we spend and China is no longer buying our bonds. But Bernanke has decided to print more fiat money to the tune of $40 billion dollars a month.
Whoever said money doesn’t grow on trees is full of shit.
And who is the benefactor of all this “stimulus” spending — You? Me? Our local community and economy?
Of course not.
It’s the same boys we’ve come to know and love to hate – the usual benefactors – CitiShit, Bank of Amigos, Wealth Fargo, and the other institutions that make up the United States of Plutocracy.
At best this ill-fated decision by Ben Bernanke will swell the coffers of the plutocratic shareholders and get Barry Soetero and company another four years in the Out House.
At worst, it will lead us into a liquidity trap, cause hyper-inflation, stimulate a peoples revolt, give rise to anarchy and eject the squatter that currently occupies 1600 Pennsylvania Avenue.
I opt for the worst.
Kevin A. Lehmann
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