Skip to comments.Bernanke's Folly
Posted on 09/25/2012 10:55:36 AM PDT by Servant of the Cross
Psst, remember this story? The one where a panicked Ben Bernanke and his cronies at the Federal Reserve -- seeing more devastation in the jobs and housing markets -- say they will continue to disguise the failure of Obama-Reid-Pelosi-Dodd-Frank socialism by flooding Wall Street with even more dollars?
Well that's not exactly verbatim, but lost in the news shuffle of embassies being attacked while Marines are un-armed -- and Mitt's video of truth about 47% -- was Bernanke's latest announcement of quantitative easing by the Fed (QE 3). This was followed a couple days later by Japan's central bank announcing their QE 8. Yes, eight. And while this was blown off the front page by other events, QE 3 might have a greater impact on the 2012 election and us in the long run than the embassy issues. I mention Japan since they are now 20 years into a stagnant economy, and easing has failed every time.
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