OK, gang back to kitchen table economics, why would buying 40 billion a month of Mortgage backed securities create jobs? Theory being by lowering mortgage rates increasing home buying and restarting the building trades..Wanna bet.. These dams fools don't have it yet,,We don't have any money out here..We can't buy a snickers bar without digging for pennies and they think lowering mortgage rates will create jobs by us buying houses..
I actively searched for stories on the effect of this plan of taking more junk off the banks books., It still won't make them solvent .. There's trillions of derivatives sitting out there will kill them sooner or later...
Meantime out here in the real world , more people out of jobs, more people on food stamps , more people looking for work, more not finding any.. and these fools want to give the banks a blow job..
If this roughly 500 billion a year were going to be put into infrastructure , we would put millions back to work.. and push the economy forward,
It will have one positive effect, it will lower the value of the dollar, making import more expensive and the building of the stuff here.. Now if they would slam some tariffs on we would be back in business. They won't do either you can bet on..Cinch your belt up another notch,,"I don't care if it is already touching your backbone. Pull it tighter.