The economy is going to hell under Obama far faster than anybody short of Cloward and Piven ever dared think.
If at first QEI doesn’t succeed and then QE2 doesn’t succeed to make up for the worst and most wicked president in American history, why try, try, try again.
Bernanke and the rest of the Federal Reserve Board keep trying to magically create enough money to keep up with Obama’s deranged socialist spending and no matter how determined they are to get the job done it just won’t go their way. I have a feeling the Federal Reserve, in trying to deal with Obama, can relate to this scene of Cameron Diaz trying to deal with her bong:
They keep trying to add zeros to the Federal Reserve computers but they can’t seem to add the damn numbers fast enough to keep up with their psychotic president. And they keep saying, “SERIOUSLY?!?!”
Federal Reserve leaning toward more stimulus
By Paul Handley | AFP – Wed, 22 Aug, 2012Policy makers at the US Federal Reserve are leaning toward more stimulus action “fairly soon” unless economic data turns around, minutes from their meeting three weeks ago showed Wednesday.
The minutes revealed most members of the Federal Open Market Committee were concerned about slowing growth and the vulnerability of the economy to external threats, particularly economic instability in Europe.
“Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the record of the July 31-August 1 FOMC meeting said.
“A number of members noted that if the recent modest rate of economic growth were to persist, the economy would be less able to weather a material adverse shock without slipping back into recession,” it added.
Fed members discussed the merits of different approaches to sparking more drive in the economy, from signalling that they would keep their benchmark interest rate at the current all-time low longer than currently understood, to undertaking more bond purchases aimed at pulling long-term interest rates down further.
Some said that a new Fed program to purchase Treasury and other bonds, pressing down their yields, “might boost business and consumer confidence”, while demonstrating that the committee remains focused on lowering unemployment while keeping inflation under control.
In the end, the FOMC put off any new action, but the minutes show the policy makers closer to moving on a new stimulus plan at their next meeting on September 12-13.
Yes, it’s pretty crazy to keep trying quantitative easing over and over and over again – the definition of insanity being what it is and all – but you’ve got to see things from the Fed’s perspective: all Obama can do is fail, and fail, and then fail some more while blaming absolutely everything but his failed leadership and his failed policies for said failure. So no matter how totally nuts QE3 is at this point, that’s pretty much all we got until we get ourselves a new president who isn’t a Marxist.
But, you know, if it makes you feel any better, Obama is spending all that money to keep losing more jobs for America:
U.S. Weekly Jobless Claims Unexpectedly Rise To 372,000
8/23/2012 8:37 AM ET(RTTNews) – First-time claims for U.S. unemployment benefits unexpectedly showed a modest increase in the week ended August 18th, according to a report released by the Labor Department on Thursday.
The report showed that initial jobless claims edged up to 372,000 from the previous week’s revised figure of 368,000. The modest increase came as a surprise to economists, who had expected jobless claims to slip to 365,000 from the 366,000 originally reported for the previous week.
Additionally, the Labor Department said the less volatile four-week moving average crept up to 368,000 from the previous week’s revised average of 364,250.
by RTT Staff Writer
Unexpected! Drink, ye few dying-of-cirrhosis-of-the-liver-zombies who are still left alive in this the fourth year of the mainstream media trying to cover for Obama almost as desperately as the Federal Reserve is.
One of the factoids that Obama doesn’t want you to think about is the fact that, given our population growth, ten million Americans have actually entered the work force during Obama’s presidency. And Obama is so far behind in creating jobs for them that it is beyond unreal. Which is why our labor participation rate is getting to the point that you just want to crawl into your own toilet and flush yourself before Obama does it for you.
Compare Obama’s abject failure and his abjectly failing “solutions” to Ronald Reagan. And then vote like you AREN’T stupid.
Just to make sure you understand what’s going on, liberals will do whatever they’ve got to do to somehow gin up the markets before the election. Democrats will do whatever it takes to create the illusion that the country isn’t going to hell prior to election day. They’ll bankrupt the country and make our children and their children ad infinitum debt slaves to the Chinese if that’s what it takes.
For the record, I predicted that we’d be at this very point nearly a year and a half ago:
In the market itself, two things are happening: one is that banks are able to borrow money at nearly a zero percent interest rate and then reinvest it in bonds for a safe and easy profit without those risky and pesky loans to small businesses. The other thing is that there are virtually zero bankruptcies of major business and financial sector entities because they can borrow money at the aforementioned artificially low interest to keep themselves alive no matter “artificial” that life is. The moment we start to see interest rates go to their natural levels, you are going to see a giant swath of reorganizations (which is a fancy word for bankruptcies). It’s coming.
I’ve also watched as QE2 (that’s Quantitative Easing, the Obama Fed plan to manipulate interest rates by creating bogus money based on the government essentially borrowing from itself) has fed this big player stock market gluttony with artificial money creating artificially low interest rates. The last time quantitative easing ended, the market lost about 16% of its total value in about two weeks. QE2 is scheduled to end in June. You do the predictive math about what’s going to happen in June/July.
I am reminded of a rather chilling 7 minute video about a fictional scenario which is starting to look more and more like a prophecy:
The plot of the highly realistic video is that Obama’s announcment of QE4 is met with the world market finally realizing that Obama is a clueless idiot. And it proceeds to detail the unravelling of the entire financial system.
We are almost certainly going to see QE3. The only way we WON’T see QE3 is if the “experts” rename what will be virtually exactly the same thing. The liberal/progressive/socialist powers that be simply don’t have any other plan. And whether it’s QE4 or QE5, at some point the world markets will come to the same conclusion that they arrive at in the fictional video above.
Is America completely screwed in this God damn America presidency?
To answer Cameron Diaz’s thrice asked question, yes, seriously.
Tags: Federal Reserve, jobless claims, QE3, stimulus, unexpected
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