Former WH economic advisor Lindsey: Fed virtually funding the entire US deficit. “If this becomes the new ordinary, it’s hard to imagine the Fed’s maneuvering room” should another crisis hit. There will be none, and it will be the totalitarians’ chance to “transform” America… into North Korea.
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“transform” America… into North Korea.
Would that really be so bad?
https://www.ihatethemedia.com/occupy-wall-street-parasites-north-korea-better-than-south-korea-socialism-to-replace-capitalism
/sarc
Just wait until you get sick and can't work anymore if you think it is bad right now.
It does not matter if Obumbles wins or Oromney, they both follow their masters orders to the letter and the global-elite-banksters are not done raping the USA.
Our country has been bought & paid for back in 1913 by the federal reserve bank, a PRIVATE bank that is no more FEDERAL than federal express is.
Once we gave away our right as a soverign nation to print paper money for NOTHING and instead allowed a bunch of foriegn bankers to do that so we as a nation could BORROW that same free money, pay interest on it for a hundred years, then GIVE it away to countries that hate us, we were DOOMED to suffer financial collapse.
The bought & paid for houses of CON-gress have to renew the federal reserves charter in 2013 for another hundred years........how do you think they will vote?
This is like the student loans. When the holder of the debt is in reality the US govt, there will be all kinds of political pressure. Is the FED really going to make the Treasury pay back the money? What is the FED doing with the interest payments?
What is the likelyhood that the repayment schedule is going to coincide with the ability of the govt to pay them back. Every dollar paid to the FED is essentially taken out of the economy. Think of the drop in treasury prices if the FED started selling its holdings. They hold more than China does.
When are bond buyes going to stop buying US bonds because they are sick and tired of the FED using ghost money to bid up prices.
QE3 is to help the housing market with cheap loans to boost prices. Uhm, what happens when home loan rates get back to 6% or 9%- not historically high but levels that would crush this recovery.
Finally, what a robust recovery we have that we have basically free money and any thought of changing that causes nightmare for everyone.
I understand the idea that when money is cheap why not borrow, but the current pols get to put all that debt on the books at low interest rates. What happens when we get back to historical rates and the service for that 'cheap' money explodes. All that money that was wasted on public service unions for nothing in return is just a debt bomb festering on our books just waiting for higher interest rates to cause a true budget crush.