Skip to comments.QE3's Looming Failure Means Ben's Days Are Numbered
Posted on 07/26/2012 6:51:03 AM PDT by SeekAndFind
The above-the-fold headline of yesterday's Wall Street Journal, "Fed Moves Closer to Action", signals an impossibly deluded Federal Reserve utterly blind to the damage its machinations are bringing to the U.S. and global economy. Though the Fed's policies are the single greatest barrier to economic growth, Ben Bernanke, its walking, talking contarian indicator of a Chairman, seems determined to insert even more poison into the patient; presumably with an eye toward QE4 when his latest treatment logically fails.
That QE3 will certainly fail is the good news for a long suffering electorate, and it is because the weakened economic result of this most fanciful of notions will force its hopelessly naive defenders to finally acknowledge the obvious: central banks can't create economic growth, but they can undeniably suffocate it.
In short, the inherent contradiction that is QE3 is our best friend at the moment for its failure ensuring the collapse of the unfortunate Bernanke regime. Until then, however, the electorate will be forced to suffer an economic form of brutal chemotherapy that can remarkably still claim advocates.
Along the lines of the above, a little ways back the Wall Street Journal's Jon Hilzenrath asked whether the Fed's supposed monetary stimulus had proven stimulative to the stock market. He concluded that indeed it had.
As he wrote, the Fed's monetary machinations do "seem to be stimulating markets. The Dow Jones Industrial Average is up more then 50% since the Fed launched its first bond-buying effort in November 2008, and stock prices seem to jump every time a new hint of Fed action emerges." But is the correlation sound?
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well here is my signal...
The ONLY reason we have not gone into severe recession/depression is because of bernanke..
fubo has the hoover/roosevelt playbook, and has been running it step by step..
all the dominoes are in place to be knocked over..
except for one.. the fed has refused to place their domino on the board, and this has been frustrating as hell for fubo..
what most people do not know is that bernanke is a student of the great depression. He has studied it’s causes and effects. He knows what NOT to do..
I said early this year to watch for the cry for his resignation. That will signal the start of the end.
Here is the beginning of the call for his resignation, or outright firing.
QE is the modern form of bloodletting.
`Quantitative easing’ 1, 2 & 3= kinetic budgetary actions
Fancy semantics when the solution is simple:
Don’t spend more than you make, as most Americans understand.
We don’t understand `quantitative easing’ so that’s why they use the stupid euphemism `QE’.
Three more months of these clowns! 2012 can’t end fast enough.
Bungling Ben is determined to keep the printing presses smoking to try to prop up Obama’s dyng economy until after the election. Other Fed chairmen would not get involved with political moves before presidential elections, but Bungling Ben evidently has his marching orders.
The Chicago mafia must have some interesting information in their file on him.
Just keep buying gold and food.
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