Bernanke on 60 Minutes: We Could Have QE3

Qe2,3 & 4. Old saying of barking up the wrong tree?

Ben and his predessor both believe that pumping more liquidity in the stock market is the way to recovery. I don't and think that this approach is simply creating another bubble that is going to burst - and when it does all hell is going to cut loose. I am deeply pessimistic and certain that this is going to happen. The only thing that QE2 is doing is keeping and illusion alive and increasing the disparity gap between wealth and poor. I cannot belive that intelligent people are trying to return this nation to the days of the robber barons, monoply and the suppression of the working class. Take a look! Those that are still employed live under an aura of fear and are all being forced to do "more". I don't know how far this can be pushed, but it certainly will do nothing to improve the job market. The latest data clearly reflects that the Oct. job numbers are mostly seasonal hiring. Wait until
January when the layoff start. About the same time the full Republican House majority will take effect and they will re-institute the full Bush era tax cuts, albeit with some austerity measures to pay for it. I have nothing against the tax cuts other than they are not applicable when there remains a huge deficit and no real signs of an economy that would allow for them. That not a confusing statement. I simply mean that the economy would be strong enough to generate taxes via other means - and it does - but you need boom times. Anyone think that we have them? The concept of giving everyone a break on the premise of "fairness" is just trickle down theory in disguise. Trickle down does not work.
The recent Fed disclosure of banking payments is proof positive. Robin Hood they are not. Funny, the myth is derived from a guy with a hood that robbed people. Some irony in that as the middle class is being taken over the coals and before this is over they are sure to be the new minority. The county is turning into an oligarcy and Obama is a far cry from T.R. As this is a economic page rather than a political one I am stopping here.

PEEWEE HERMAN COULD DO A BETTER JOB OF SAVING THE MIDDLE CLASS THAN UNCLE BEN...WHAT WE NEED IS STEADY JOBS THAT PAY A LIVING WAGE, LOWER ENERGY PRICES THAT WOULD SPUR JOB GROWTH AND CONSUMER SPENDING, AND LOWER HEALTH CARE COST...IT COST 9 DOLLARS FOR A ASPRIN IN A HOSPITAL BECAUSE THE HOSPITALS HAVE A MONOPOLY....BEN AND CONGRESS ARE IN THEIR OWN LITTLE WORLD WITH ZERO CLUE...

A BIG QUESTION is "what is gong to happen at the end of the "cycle" with the $600 BILLION in 'phoney monopoly money that the Ded si 'just printing' to buy us all of those U.S. Treasury notes and bonds"???

In the end, when the American people/taxpayers have toredeem those notes/bonds at maturity, shouldn't the PRIVATELY OWNED "Federal Reserve Bank" SHRED the dollars that are received? Otherwise, is the PRIVATELY OWNED Fed going to realize a "windfall profit" for having just "printed that currency"???

Somehow, Ihave not seen this "end of cycle addressed anywhere, have you? Do the PRIVATE OWNERS of "the Fed" windup KEEPING the $600 BILLION as "profit"?

What is going to happen in the end???

Pity the Chinese......their $800 billion investment loan to the US government took years to produce through trade with the USA, while the USA government created $600 billion through the stroke of a pen. I wonder how the Chinese feel ?

We did some holiday shopping last evening at a major mall in our area. Just try to buy ANYTHING that is produced in this country!! The electronics, clothing, shoe and furniture industries in this country are going to exist only in history books. Were it not for government bailouts, the same could be said for the automobile industry.

How does anyone reasonably expect jobs to come back to this country when the factories are all being moth balled? We have become a nation of consumers and very few producers. How long does anyone think that this can last? These jobs are not coming back!!

The middle class in this country was built on agriculture and production of finished goods. Near as I can tell here in the midwest, agriculture is still in place with many fewer jobs and factories are few and far between.

We may be relegated to sending raw materials abroad and buying back the finished goods from them placing us in a third world country status.

I sincerely hope that I am wrong.

The 600 billion will evaporate into more debt. It will eventually be borne by future generations. It is not "monoply money, but I do get the point of the remark.

The value of the dollar is based upon dollar vs GDP vs world economic conditions and that is how it is traded against other currency. Given that the Fed and the Treasury can print whatever they feel like as it is really a case of what is in circulation.

I repeat - there are too many loose ends. The fallout from the voodoo financed housing bubble created a mess that is worldwide and which in turn has become a morass. I thnk that is a good analagy.

600 billion bucks would be some $10,000 per family. Of course, the rich would invest it, the poor would pay rent. So why purchase gov't debt? It is a way to print more money in hope there will be no inflation. Inflation is already here and the gov't pretends it is not. If the prices are not climbing, regulation and tax rules make costs go higher, having the same effect as inflation. What morons are running this gov't? The market itself is more powerful.

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A BASIC FLAWin all of this "propaganda" is equating the economic well being of our country to the profitability of our financial institutions and Wall Street. These are the parties who profitted from orchestrateing and perpetuating the frauds andPonzi type schemes that caused the phoney economic boom, and then the eventual bust. These parties have also profitted rather well during the bust and to current times . . . BUT the profitability of these groups DOES LITTLE to generate recovery for the average Americans.

These CRIMINAL corporate special interests DESERVE to incur their share of the economic hit to redistribute some of their ill gotten gains. Pumping more money to prop up the financial sector is NOT going to promote the creation of businesses and the creation of jobs for Americans.

The FLAW is in thinking that the financial sector is the measure of our economy; it isn't. During "normal times" when Americans were legitimately profitting from investments in the markets, the markets were more important. Now with the markets being heavily manipulated and controlled by special interests, the markets are more a skimming pool for corruptly skimming the investments of the American people. The markets lack the integrity and stability to warrnt investments by the American people.

Granted this is a radical deviation from the historic view of the markets importance to our national economic ell being; but there is a great divide between Wall Street's interests and the BEST interests of the average Americans. The financial markets must be made to survive or fall based upon the economic conditions of the individual firms . . . isn't that a basic concept of "capitalism"?

It is time to terminate all of the special tax breaks and loop holes to prohibit and to terminate the ability of millionairs and billionaires to get by with paying little, if any taxes. All things being equal, everyone will just hape to adjust to the financial realities of a new, better, and learner economy. We all . . . esp. the wealthy . . . will have to contribute absorbing their share of the cost of recovery. A continued propping up of the financial sector and Wall Street is only dragging out and exacerbating the attempts for economic recovery.

I am investing in North Korea Nukes and China dolls as a hedge off inflation.

The "Change" sure made Mrs Zero Bama thrilled with her second time she likes America as she spent OVER 1 BILLION in tax payers money on vacations SEE the public record ZERO Bams vacation spending Almost as high as Pelosi spent traveling

SPREAD DA WEALTH

Gentlemen, As we all know, jobs are not coming back, they can if we drop our cost of living to par with China and India. But you greedy begers won't settle for that will you.There are way too many people in this country making 6 figures and up that is really not needed. If Government can't handle that, then Socialize the dam country and be done with it. The other allturnative is to give each State more independance on many items. Government in America has become too big and is losing control.