Serenity now. Insanity later.
What part of NO STIMULUS don’t they understand?
This fail like 99% of all ‘Hail Marys’.
At some point another bottle of saline solution in a bleeding patent is just adding saline to saline...
“Michael” Pence? First time I’ve seen that.
How does MY vote count on this issue? The Feds seem to be able to do anything they want WITHOUT the OK from congress. This means an “outside-of-our-control” entity can DECIDE to print OUR money devaluing it and we have NO say? How is this different from the N. Koreans printing counterfeit money ... same amount of USA voter oversight, same result, ... I know the difference, different printing press!
Do you realize that the quote in part one of “Like a thief in the night” was never penned by Thomas Jefferson? It’s completely made up.
I get the larger issues. The FED is giving us a royal ass-raping. It will all end badly.
Fraking Monopoly money....
Can I get one of those gold colored $500,000 bills?
I recall how Bush was ridiculed after 9/11 for suggesting that people should go out and shop.
Low interest rates may be counterproductive. People that are saving for education expenses have to save more, people who are saving for a downpayment for a house have to save more, people saving for retirement have to save more and retired people have lowered incomes. If interest rates were to start moving up people sitting on downpayments waiting for home prices to drop further might start buying homes which might stabilize home prices or even increase their value thereby making homeowners feel more wealthy.
This is why gold us up $41 an ounce already this morning.
Excerpt:
But Helicopter Ben Knows all this. And he is a self-proclaimed expert on the Great Depression of the 1930's. And yet he plows ahead with this plan to wreck our economy further. Bottom line -- the Fed doe not give a rip. The plan is to sucker millions who have been sitting on the sidelines awaiting the 'recovery.'* * * The answer is that an awful lot of people are going to lose an awful lot of money.
We heard the first rumbles of trouble from these freshly gathering storm clouds last week when unexpectedly strong UK third-quarter growth caused a minor correction to gilt prices. Yet this was fast forgotten. * * *
The purpose of QE is – by driving interest rates ever lower – to create a disincentive to save in the hope that companies and households might consume more or invest in higher risk assets. Paradoxically, the very reverse may be happening.
Funds are still flowing into government bonds in record quantities, for if you know central bankers are going to continue supporting the price, then there is every incentive to buy. Consumption and private sector investment is correspondingly harmed.
The phenomenon has also spawned a renewed "search for yield", which creates yet further anomalies. For instance, corporate bond prices have been a major beneficiary of the dash for government debt. * * *
The dangers * * * of further inflating a bond market already disengaged from underlying fundamentals are all too apparent.
Assuming no default, government bonds will never entirely destroy capital, in the same way as sometimes occurs with equity. But inflation can seriously impair it, and once markets suspect the inflation genie is out of the bottle, the damage is always swift and devastating.
Then the trap is set. Word to the wise: Don't get you tails slammed in Mr. B's mouse trap.
And yada, yada, yada.
Here comes the international backlash: http://bit.ly/bjJTzR