Bernanke knows QE3 will fail to revive the real economy, but he
doesn't care; his real job is to protect the Fed's political power and
the banking sector's wealth.
The
unleashing of QE3--unlimited money-printing in support of the financial
Status Quo-- is proof the Fed has failed, failed, failed. If
anything the Fed has done in the past four years had actually had a
positive consequence in the real economy, Bernanke would have identifed
that policy and expanded it in a measured response.
Instead he went all-in, emptying the Fed's toolbox in one big dump: unlimited money-printing, unlimited propping of the mortgage market, unlimited support of low Treasury rates and three more years of zero-interest rate policy (ZIRP). Here is the translation of the Fed Chairman's public comments: whatever. Did you see any of his testimony? It was painfully obvious that either 1) he was sky-high on Ibogaine or 2) he was just going through the motions, duly enunciating PR "cover" that he finds tiresome to repeat and impossible to say with any sincerity or conviction.
His body language and delivery said: "You think I believe this canned shuck and jive? Get real, chumps."
Here is the key quote from his remarks:
Read more: http://www.zerohedge.com/news/guest-post-fed-has-failed-failed-failed
The
unleashing of QE3--unlimited money-printing in support of the financial
Status Quo-- is proof the Fed has failed, failed, failed. If
anything the Fed has done in the past four years had actually had a
positive consequence in the real economy, Bernanke would have identifed
that policy and expanded it in a measured response.Instead he went all-in, emptying the Fed's toolbox in one big dump: unlimited money-printing, unlimited propping of the mortgage market, unlimited support of low Treasury rates and three more years of zero-interest rate policy (ZIRP). Here is the translation of the Fed Chairman's public comments: whatever. Did you see any of his testimony? It was painfully obvious that either 1) he was sky-high on Ibogaine or 2) he was just going through the motions, duly enunciating PR "cover" that he finds tiresome to repeat and impossible to say with any sincerity or conviction.
His body language and delivery said: "You think I believe this canned shuck and jive? Get real, chumps."
Here is the key quote from his remarks:
"If people feel that their financial situation is better because their 401(k) looks better for whatever reason, or their house is worth more, they are more willing to go out and provide the demand."
Read more: http://www.zerohedge.com/news/guest-post-fed-has-failed-failed-failed
No comments:
Post a Comment