Monday, November 1, 2010

How to Rob the Tax Payer More Efficiently

Yep... that's what this report says will be happening the next couple of days as the Federal Reserve does a half trillion of QE (quantitative easing). Watch and be amazed:

This is what you get with a "leader" like Obama who refused to take the unemployment and depressed economy seriously. He put in place a half effort "stimulus" which was more tax cut than actually job creation plan. It didn't put money in the hands of people who would spend it (that's how you "stimulate" a depressed economy). So the Federal Reserve is having to do the heavy lifting by providing QE. But as this report points out, that really puts money in the hands of the banks and not necessarily into the economy (the banks aren't lending! instead they are "cleanup their balance sheets" by offloading bad assets to the Federal Reserve, i.e. offloading losses to the taxpayers).

This clip complains about inflation, but inflation is one way to drag an economy out of depression. It makes it expensive to sit on cash. I means that people who are underwater with their houses will see their house prices go up to help get them out of being "underwater".)

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