Time for another round of table top economics..QE3 just another rape of us good guys..40 billion a month of MBS's taken off the bank's book monthly from now to eternity. Gonna make the banks healthier by taking all that junk and putting it on our backs. The bitch of it is it won't create one job.. It might lower mortgage interest rates but that won't restart the housing markets..
Our economy as any bonehead knows runs mostly from consumers buying stuff, without money , and with the high cost of gasoline and food there's not much left for buying frills.. Like clothes , doctors, meat and any of the finer things of life..
QE3 will not put one job on the street, not one... If they would take the close to 500 billion bucks and throw it into infrastructure , building and repairing things like, airports, schools , water and sewer plants , roads ..you know , all the things falling down around you. Then you would see jobs...
QE3 will do bad things to you and I.. It will raise inflation .by lowering the dollar, it will reduce your income if you own interest bearing devices..It will make our lives even tougher still..
Not many will admit it , we are in depression, probably only feeling the first wave down, there will be more and QE3 is the mall hammer that will start it down..
Keep an eye on Shadow Stats Inflation graph and in the same page unemployment (the real one) and CPI as well
Here's a good piece by Budget 360