“Pump to dump the Republicans” is now in full swing as Fed head Ben Bernanke looks to secure his reappointment and Obama’s reelection with a new Quantitative Easing (QE) maneuver even though he admitted in August that “the economy is far from satisfactory!”
Print money we don’t have but print it we will because America’s go to guy for easy money just pulled the lever of our printing presses to artificially pump the housing market hoping those new home owners somehow will make it to the polls in November to pull their vote levers for Barack Obama.
But wait a minute. Isn’t a loosey goosey housing market crisis what caused the 2008 crash? And doesn’t doing the same thing over and over to get different results constitute insanity? Well, maybe, not so much. If this financial snake oil salve worked in Obama’s favor then, maybe so now, and insanity turns into a Democrat campaign win.
Bernanke just took advantage of his own loose money policies when he recently re fi’d his Washington home by unloading his 2009 fixed rate mortgage with its 5.375 rate into a new fixed rate of 4.25% in 2011. This home was listed as being valued at between $500,000 and $1 million dollars with no exact figure being required for reporting purposes. And how about seeing this man’s former boyhood home sold to another buyer today for $83,000 in a foreclosure sale?
Bernanke’s policies really benefited the young banker who snapped up this great bargain when the former owners fell behind on their home payments. “The small town-Dillon, S.C.-that gave the Fed its chairman is suffering more than most with an unemployment rate of 14.2%, double the national average,” reports the Wall Street Journal.
“Federal Reserve Chairman Ben Bernanke offered a robust defense of the effectiveness of the Central Bank’s easy money policies in his August speech and left little doubt that he is looking toward doing more to give the economy a lift.” Really? Just how many more right pocket, left pocket slights of hand will Congress allow from this man and from his boss?
It didn’t take long for the damage to happen. One day after Bernanke’s stab in our financial back Egan-Jones (E/J),a major ratings firm cut its credit rating for the U.S. government to “AA-” from “AA.” E/J opined that Bernanke’s quantitative easing would hurt both our economy and our credit rating in world markets.
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Printing more money just hurries the United States demise. To all the people getting freebies from the government now, when the country goes broke, not only will your freebies stop, as we won' t have any money to give, but also your freedom will stop. It is hard to believe, and I don't believe it, that over half the country wants to keep this administration in power. If an able bodied person would rather depend on the government instead of working at a Mc Donalds, Walmart, etc, then you have no pride in either yourself or your country. The speeches you are hearing now are the exact same things you heard four years ago, and nothing has changed for the better. Don't be sucked in again.
Printing worthless money to buy an election! How low will these socialists sink! Anyone with an ounce of sense cannot vote for this radical socialist's army of liars and misfits. Clean house with some real Americans who will fight for and defend this country, Another four years of Obama and this coiuntry will not exist.
Printing worthless money to win an election. Letting a defenseless Ambassador be killed and apologizing for a seond rate book. This administration has no shame.