Skip to comments.Fed's Quantitative Easing to Starve Middle Class Americans
Posted on 11/03/2010 10:58:05 PM PDT by Razzz42
...The fact that the Republicans took control of the House of Representatives last night is completely meaningless. If the U.S. government is to implement the spending cuts necessary in order to prevent hyperinflation, Americans will be faced with a second Great Depression, which NIA believes is a necessity and much better than the alternative. However, the Republicans will not risk being held responsible for the next Great Depression, because it will ensure Obama gets reelected in 2012. Therefore, NIA predicts that nothing is going to change with the Republicans taking over the House...
(Excerpt) Read more at inflation.us ...
You wanna do over for all that ?
BTDT - just payin it forward.
If the Republicans in the House pass constructive measure after constructive measure through the next two years for the Senate to abort or for the Kenyan to veto then the Rationalist-in-Chief cannot get any traction with his blaming because it would all come down to the "Do Nothing Congress" which won't fly so long as the Congress is incessantly doing. Then it will be the President who looks like a pure obstructionist. But the Republicans can't lie back and say well, we can't do anything anyhow, so we'll just stop whatever it is the Kenyan and his senators try. They have to be a hive of activity. Economically we don't need successful Reagan type measures passed, at least not so early that they take effect before, say, September 2012. We don't need that cleansing short term crash to knock it all into the proverbial cocked hat by turning it all over to the Left Democrats in November 2012. Our guys just need to try hard to stanch the bleeding from the Fed somewhat until sometime in 2012 when the can get serious and, if successful, won't bring the crash-before-the-rapid-recovery until it is too late to affect the election.
The depression is not “coming.” It is already here, Remember the classic one was not a continuous downturn. It was a series of recessions and anemic recoveries. It was proclaimed to be ended several times and did not really end until the 50s boom when the soldiers were all added back into thêconomy and Ike got most of the economic repressions of the New Deal lifted. During the war years we had a full-employment depression but people were no better off materially. All that production was being blown up as fast as it was produced and wages were frozen at near third world levels. Outside of the war years unemployment was up and downish. Unemployment now, if figured the way it was then, is comparable to that in the 30s.
I think the only thing the conservatives can do to give back any real chance of a long term future for the Republic is every conservative family pull its children out of public dchools and home school them or send them to parochial schools or carefully vetted private schools.
I would hate to see something similar to the Great Depression today. You would not have people coming to the door begging for a meal. They will kick in your door take your goods and food and then kill you nowadays. This is why a depression like that of the 30’s is not really a viable thing - it will mean the unraveling of society and I wonder why some here seem to revel in the prospect of it.
I agree with you 100%. It is a matter of semantics. The elites and the press are talking about recovery as we slip further into the depression.
Those sitting on money will be forced to invest it in new ventures, thereby increasing employment.
Higher prices from offshore sources will result in some manufacturing returning to the US.
This will also require laws to be passed to eliminate inflation-indexed pensions.
Those who will suffer most will be those on fixed incomes. Inflation will simply be a way of reneging on pension plans.
Staffing companies will experience a surge, as the only way people will be able to keep up with inflation is to change employers.
As the dollar becomes worth-less it will become much easier for Joe Sixpack to pay off mortgages and other debt.
The Chinese - who are sitting on a mountain of dollars - will begin buying businesses and property in the US. Many Americans will be working for Chinese bosses. Chinese will begin moving to the US en-masse - which will probably improve the neighborhood here in the US.
In summary - it's going to be a rough ride and a mixed bag of blessings and curses - but mainly curses for those who won't roll up their sleeves and get to work. And it will beat the alternative - which was best depicted in the movie "Soylent Green".
It’s time for the Republican leadership to explain to the American people what the Federal Reserve is doing, and how it will lead to hyperinflation. But they are so afraid of panic that they don’t have the balls to provide Americans with information that they’re entitled to. Bottom line is that most Americans will figure this out anyway within the next 6 months, when they question why their dollar is losing buying power. GOP needs to get ahead of the curve on the current information gap.
The (R) party has two years to show they are not the (D) party - or Socialists.
I have no doubt the lame duckers will leave a scorched earth for the incoming folks to deal with - just as they did under Clinton.
If they expect to do well in 2012, they had better show bammy beating his veto stamp to death - they sure as he!! are not going to get any help from the ‘free press’.
I’m afraid I don’t understand either the question or the letters....is it a New York thing?
been there, done that.
I agree with everything you wrote there.
The depression is not coming. It is already here
I suspect you are right but it’s hard to find “experts” that say it. I suspect most of them are afraid to admit it lest they harm themselves.
This recession has felt so much different than the others I have experienced in my middle aged life. I take different routes home and pay attention to businesses that are closing and my area is doing better than most. I see many businesses that have to be really hurting and probably will close given what the next few years or decades look like.
At some point it seems like the cascade effect will happen and many many more people will be out of work. I am not an economists but I recognize that Wall Street and our leaders are living in a different world than the rest of us.
The actions of the Fed are very dangerous in an economy dependent on consumer spending. The more people cut out non-essential spending the more businesses will borrow to stay afloat before inevitably closing their doors and laying off workers. The cascade effect has probably already started and we still have plenty of structural problems with debt, public pensions, entitlements, and the health of our currency.
It feels like our leaders live in a different reality than I do if they think we can borrow our way to prosperity. I have feared all along that the Fed and our gov’t would monetize our debt to benefit themselves.
It is depressing to think about but thanks for an excellent post. I need to read more about the Great Depression and encourage everyone else to prepare the best they can.
I was wondering whether I would get a reply on that one. I am glad that I am not the only one who sees the terror in this.
I agree with one additional proviso - the parochial need to be vetted too!
Not all Catholic Schools are the same these days!