Here We Go Again!
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- pissedoffinarkansas
- added this
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more from News and Politics:
http://www.nytimes.com/2009/03/19/business/economy/19fed.html?_r=1&hp
“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 at virtually zero. But in a surprise, it dramatically 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.
Indeed, the immediate effect on the bond markets was striking, with prices rising and yields dropping sharply on the news. The yield on the 30-year Treasury bond, about 3.75 percent before the announcement, fell quickly to 3.4 percent and remained volatile. At the same time, the dollar plunged about 3 percent against other major currencies.
Another trillion dollars of our money(debt). And it won't make a damn bit of difference. And watch and see if all these institutions getting our money ever really pay it back. They most probably won't.
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- groups:
- News and Politics, Politics
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- tags:
- News and Politics, Politics
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Inofuilwell
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What else is there to say except to agree with the assessment of the first two posters.
PissedoffinArkansas, please re-post the link to that "debt" video. I have it bookmarked but since you first called my attention to it, won't you again do the honors for those who remain unenlightened.
I am amazed it took me this long to realize our economic system was unsustainable and that this crisis will determine whether or not the U.S. flourishes or becomes a third world country with a small ruling elite.
- 11 months ago
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Inofuilwell
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AveryMoore
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Given a dismal track record for 30 years of bluff and failure is it time yet to put the Fed out to pasture?
It ain't Federal.
It ain't a Reserve.
It's really more a cult. A Delphic Oracle with too few divinatory skills to make any qualitative regulatory or quantitative nation enhancing difference for the better.
They provide too little, too late, and at too much cost.
Ron Paul I think was right.
- 11 months ago
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AveryMoore
