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.
This is exactly what I thought when I heard about this. More quantative easing isn't going to do anybody but the banks good. Restart the housing industry? We're already at a negative interest rate! These people are fools. We're doomed.
ReplyDeleteIt is a world wide depression so tariff's would help, but not save us. Who's buying?
ReplyDeleteJobs fixing our crumbling infrastructure would be money well spent and help many. I'm for it.
But since banks,pharmaceutical giants,military suppliers, etc own our government,all we will get is more welfare for the banksters. It is criminal.
They will not give up this stolen power willingly. So the people's belts will be 'touching their backbones,' until they are overthrown or the system collapses.
~Heidi
Yes, things don't look good, but after hearing Romney's lack of details for fixing the economy and the continued hatred that the Tea Pottiers and conservatives spew against the POTUS and all Dems, I try for a positive attitude which is more relaxing to me, so I will vote for anybody but a God Opportunity Party candidate.
ReplyDeleteAfter hearing MItten's total lack of diplomatic abilities in the last month, it will take God to Save the USA and troops if the gops get elected. After going to the LaMalfia / Reed debate at the Faith Destiny Church the govt. could decrease the deficit by removing all these churches that support and promote Political Candidates and issues, non-profit tax-free status since they are violating their 501 status.
We are lucky to live in the US because, except for third world countries, we have about the cheapest prepared food.
Since we can't count on the rich to make jobs, I am doing my bit to help the economy and promote jobs and am checking labels to buy things not made in China. This year I have bought 3 new flat screen LED TVs, two on great sales. I took my still working CRT type sets from 1986, 96, 2001 and 06 to the Salvation Army. They said they have a market for them all since they sell for 1/10 price of a flat screen.
Today, I picked up a new dishwasher. Sears had a great sale and I used $100 in coupons that were printed out when I bought a $15 LED light fixture that replaces the light bulb and metal cover of my old trouble/work light.
Spent money for tichets to see the Styx concert.
Decided not to pull the trans on my truck after I found broken parts in the pan and paid a good friend to do the repairs and help his business.