Revealations follow. Yesterday, Senator Chuck Schumer (D-NY) urged Federal Reserve Chairman Ben Bernanke to start quantitative easing or similar measures before November. Then, incredibly, he ordered, Despite two false starts, were having a much rougher time than we ever imagined getting unemployment down. So get to work, Mr. Chairman. He reasoned that Bernanke should act because Congress refuses to: Maybe after November we will. Yeah, thats right. Pass the buck to Bernanke because Barack Obama sure aint gonna cut government spending or cut taxes, so all thats left is to order the Fed to print more money. And before November, just in time for Obamas re-election. If Bernanke had a magic stimulus under his bed, he should have whipped it out four years ago for the good of the country. Now, its just obvious that hell be inflating the economy for political reasons. Sen. Jim DeMint (R-SC) warned against the plan, saying, If were printing more money to buy more of our national debt, we are diluting the value of our dollar over time. Bernanke, of course, was disingenuous: We will act in an apolitical, non-partisan manner to do what is necessary for the economy. We have said we are willing to take further action its very important that we see sustained improvement in the labor market. Apolitical? Non-partisan? Youve got to be kidding. Without the monetary easing that Ben Bernankes foisted on the economy, the unemployment rate would be in the mid-9% range rather than its current level of 8.2%. Bernanke has been saving Obamas bacon for a while now. Second, since when was it the federal governments job to ensure employment? The American way was for the government to stay out of our way so we could create jobs through entrepreneurship. When did it become the governments job? Can you say Franklin Delano Roosevelt? Barack Obama should be able to. After all, if he, Schumer, and the Fed keep inflating the currency, the 1930s may not seem such a distant memory at all. http://www.breitbart.com/Big-Government/2012/07/18/Chuck-Schumer-orders-Bernanke-before-November
Interesting statistics from Badmutha. The USA Conservative--42% Independent--39% Liberal Nut Job--19% Without Vote Fraud. Democrats would never win one election.
Definition of 'Quantitative Easing' A government monetary policy occasionally used to increase the money supply by buying government securities or other securities from the market. Quantitative easing increases the money supply by flooding financial institutions with capital, in an effort to promote increased lending and liquidity. Read more: http://www.investopedia.com/terms/q/quantitative-easing.asp#ixzz210CxRlN9 Investopedia explains 'Quantitative Easing' Central banks tend to use quantitative easing when interest rates have already been lowered to near 0% levels and have failed to produce the desired effect. The major risk of quantitative easing is that, although more money is floating around, there is still a fixed amount of goods for sale. This will eventually lead to higher prices or inflation. Read more: http://www.investopedia.com/terms/q/quantitative-easing.asp#ixzz210D7MQs2
