Posted on 03/18/2009 4:59:08 PM PDT by pissant
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WASHINGTON: Saying that the recession continues to deepen, the U.S. Federal Reserve announced Wednesday that it would pump an extra $1 trillion into the economy by buying mortgage-backed securities and long-term Treasury issues.
"Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending," the Fed said, adding that it would "employ all available tools to promote economic recovery and to preserve price stability."
As expected, the Fed kept its benchmark interest rate virtually at zero. But in a surprise, it drastically increased the amount of money it will create out of thin air to thaw out the still-frozen credit markets that have cramped lending to consumers and businesses alike.
(Excerpt) Read more at iht.com ...
What the hell could they be “buying” them with?
The inflation that this will cause will outshine Zimbabwe’s.
Our great-grandchildren’s MasterCard has an unlimited credit line.
I live in So California and for about the last hour or two the air smells real bad anyone know whats going on? its horrid
I guess the Chinese aren’t buying enough junk bonds.
No one at the Fed ever heard of Bernhard Krüger.
wunner what hillary promised to the chinese...
hyperinflation anyone?
Listened to this earlier today:
Why the Meltdown Should Have Surprised No One
http://blog.mises.org/archives/009620.asp
Words fail me.
Hint: They own a printing press.
Perhaps, however we will go to our sovereign grave knowing that we are the greenest, planet sensitive, ozone caring, planet sensitive cadavers known to mankind.
So what's the big deal?/s
I guess the Chinese aren’t buying enough junk bonds.
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BINGO , Junk=Treasury
They just laid off a bunch of workers at the plant where they make the paper for the money. I guess they havent gotten the news. (Actually they laid off the folks making note paper....because no one but Obama is having parties, so no one sends thank you notes any more.)
How much money does America have in circulation? I would just like to know if this administration has spent most of it yet, or not.
Fed to pump another $3 trillion out of the real economy to redistribute that which doesn't get sucked up in administrative bureaucratic costs to failing companies and favored CEOs
At this rate, in a year or two it will take a wheelbarrow full of 100 dollar bills to buy a Big Gulp!
Absolute freaking retards running our Country!
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