QE3

[EL PRESIDENTE]

I think a few of us have been calling this for the past 2+ years. The economy wouldn't be doing good so the FED will pump right before the election.

http://blogs.wsj.com/economics/2012/09/13/live-blog-fed-decision-and-bernanke-press-conference-2/

The Fed is launching a bond-buying program to purchase mortgage-backed securities by $40 billion a month.

The Fed action could keep the stock market propped up in the coming weeks. Just with the new purchases and Operation Twist, the Fed will be buying $85 billion a month of bonds through the end of the year.

So 55 days before the presidential election, the Fed just launched two printing presses: its own, to expand its balance sheet even further. And the GOP's, to fire off press releases attacking the Fed for taking action.

For the Fed, this is the ultimate demonstration of independence from politics. But it may not feel like that out there in voterland.

 

[maxiep]

Jesus, we're monetizing even more of our debt.

We all became poorer today.

 

[EL PRESIDENTE]

1/2 trillion dollars per year. no cap on this.

but the economy is recovering!

 

[maxiep]

This "recovery" is like cotton candy. Fluffy, but all sugar and no density.

 

[EL PRESIDENTE]

we're just creating an enormous bubble right now.

 

[3RA1N1AC]

with the drought this summer and the inflation from these "stimuli", food is going to skyrocket in the next year

 

[EL PRESIDENTE]

It's already been skyrocketing.

{Poasted via palm pilot}

 

[3RA1N1AC]

well, this just gave it more fuel, to infinity and beyond

 

[Haakzilla]

...vote Ron Paul -- end the Fed!

 

[EL PRESIDENTE]

with the drought this summer and the inflation from these "stimuli", food is going to skyrocket in the next year

http://sportstwo.com/threads/178887-Bernanke-s-Quantitative-Easing-and-Rising-Food-Prices

 

[Denny Crane]

The actions by the fed are too little, too late to help Obama's chances in the election.

 

[EL PRESIDENTE]

It will pump up the DOW in the short term, which is the only positive he can have on the economy. He'll use that in the debates as his defense.

 

[EL PRESIDENTE]

is this basically just another bank bailout to get toxic mortgages that banks are holding off their balance sheet?

 

[jlprk]

QE2 isn't much bigger than similar efforts from Ancient Egypt.

 

[MARIS61]

Jesus, we're monetizing even more of our debt.

We all became poorer today.

Maybe you did. Sorry to hear your life revolves solely around counting money, which isn't even a real thing.

I had a tremendously nice day with my wife, barbecued burgers and watched "Snatch". Another very "rich" experience for me in the "bankbook of life". I'm "wealthier" than Bill Gates will ever be.

 

[Masbee]

Maybe you did. Sorry to hear your life revolves solely around counting money, which isn't even a real thing.

I had a tremendously nice day with my wife, barbecued burgers and watched "Snatch". Another very "rich" experience for me in the "bankbook of life". I'm "wealthier" than Bill Gates will ever be.

That's absurd.