UPDATE: THE NEW RULES @ THE REFORMED BROKER
TODAY'S IMPERIAL FED CHAIRMAN MAY VERY WELL HAVE SINGLE-HANDEDLY RE-ELECTED PRESIDENT OBAMA. Is anyone surprised? After all, Bernanke knows he will no longer have a job if Romney wins. But I predict, once Obama starts a second term---and yes I think he will win in November--- the economy will deteriorate rapidly and to such a degree that he'll wonder why he ever wanted four more years.
This move by the Fed to buy mortgage backed securities (with money printed out of thin air) will bring more instant euphoria before it brings long-term belt-tightening and teeth gnashing. Moody's is days, if not hours, away from downgrading our debt again. The Dollar is falling as gold skyrockets. When the Dollar falls, our buying power drops and buys less---less food, less gas, less necessities.
QE 1 and 2 had zero effect on the most pressing issue---creating jobs, jobs, jobs---but Bernanke doesn't care. Everything serves his (false) religion of Keynesian economics.
I don't want to talk about it anymore.
The One Big Problem with QE TO Infinity @ ZEROHEDGE
Thursday, September 13, 2012
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