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Federal Reserve today announces additional "stimulus"

Discussion in 'Political Issues' started by Atlas, Dec 12, 2012.

  1. Atlas

    Atlas transmogrifier

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    Ben Bernanke today, following a regular meeting of the Federal Open Market Committee, was quoted as saying :chatter:...

    ... when asked specific questions regarding the state of the economy today, Bernanke responded :chatter:

    ... in response to concerns about inflation and unemployment, Bernanke replied :chatter:

    The details are here:
    http://www.reuters.com/article/2012/12/12/us-usa-fed-idUSBRE8BB08A20121212

    Summary: You are enslaved to a system of uncontrolled government spending and inflated currency... get used to it.
     
    Last edited: Dec 12, 2012
  2. QNman

    QNman resU deretsigeR Silver Member

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    So... More quantitative easing. Fantastic. Someone owes me $20 (not that $20 is worth much anymore).
     


  3. cowboy1964

    cowboy1964

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    So basically the Fed is now pretty much covering the entire deficit.

    The Fed's "portfolio" is now $3 trillion, going to $4 trillion by the end of next year. IOW, they are creating it out of thin air. Does the government even need to sell treasuries to the outside market any longer?? Maybe this is why inflation is not skyrocketing. There are no market forces at work.
     
    Last edited: Dec 12, 2012
  4. Atlas

    Atlas transmogrifier

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    = printing money
     
  5. cowboy1964

    cowboy1964

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    I thought money printing was bad and caused inflation? Apparently if you do enough of it then market forces are irreievant. Wonder why Europe hasn't thought of this? :whistling:
     
    Last edited: Dec 12, 2012
  6. The Fed is madly paddling the canoe upstream in a losing battle to stop deflation. That's why there is no inflation.
     
    Last edited: Dec 12, 2012
  7. History tells us that printing money works until outside countries no longer accept that currency. This is what happened in Germany. Countries are now turning away from using the dollar as reserve currency. Runaway inflation is right around the corner as all those dollars flood the market and people quit stashing them.
     
    Last edited: Dec 12, 2012
  8. Atlas

    Atlas transmogrifier

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    [ame="http://www.youtube.com/watch?v=PTUY16CkS-k"]Quantitative Easing Explained - YouTube[/ame]
     
    Last edited: Dec 12, 2012
  9. Those dollars have been "flooding the market" for four years now in a vain attempt to reinflate the economy. No dice. Demand will not return to 2007 levels for a decade, if then. What the pols and talking heads aren't understanding is the effect of the retirement of largest demographic bulge in our country's history. We Baby Boomers are quitting the economy at a rate of 10,000 per day. This will continue for another 17 years! Consumer demand, which is 70% of our economy, will erode as this group saves and pays down accumulated debt rather than buy stuff. Our economy is frighteningly overbuilt for what's coming. As demand contracts, many plants will close, stores will close, companies will go out of business, people laid off, homes foreclosed. This generation has never seen deflation and they don't know how to deal with it. It's going to be a very rough next decade or so.
     
    Last edited: Dec 12, 2012
  10. GAFinch

    GAFinch

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    "Too big to fail" banks can't sell off their toxic mortgages, which the Dems forced banks to loan out. The Fed prints money to buy the mortgages. Every bank designated as "too big to fail" by TARP is a shareholder of the Fed. Treasury Department doesn't care because its leadership all either come from TBTF banks or want jobs at TBTF banks. TBTF banks send their people to run other countries' central banks, so that they're doing the same thing we're doing and don't make us look bad. See how this works?

    QE4-ever...QE infinity...whatever you wanna call it, it's officially here to stay.
     
  11. Sooo, Bumbling Benji is going to keep creating funny money as long as unemployment is above 6.5% ..............(unless inflation takes off) ................but the gubment numbers show unemployment is falling and at the rate it is falling in a couple of months we will have full employment. (according to gubment numbers)

    Will it not be in the Feds best interest now to report bad unemployment numbers? So the bumbler can justify more funny money.

    Sounds like they are laying the groundwork for bad unemployment numbers.
     
  12. barbedwiresmile

    barbedwiresmile Unreconstructed

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    Very good post. Few people seem to understand the economic dynamics in play.
     
  13. cowboy1964

    cowboy1964

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    I don't understand why Congress doesn't call The Ben Bernank back and make him swear under oath AGAIN that the Fed is not monetizing the debt.
     
  14. Congress is perfectly content with Benji's schemes, otherwise THEY might actually have to do something.............instead of extend and pretend.
     
  15. cowboy1964

    cowboy1964

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    Well, instead of Congress I should have said Ron Paul. He was chairman of the Domestic Monetary Policy Subcommittee.
     
  16. Cavalry Doc

    Cavalry Doc MAJ (USA Ret.)

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    Try to own as much stuff as you can before the hyperinflation kicks in.

    The only moral dilemma I have, is should I open up a couple hundred thousand dollars worth of credit cards and max them out, Buy some fancy new cars and a huge house on a lot more land than I have now, and just wait for hyperinflation to shrink the debt for me?


    I'll probably just go the honest route and not do that, but it's something to think about.
     
  17. Skyhook

    Skyhook

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  18. Skyhook

    Skyhook

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    I also find myself wondering if our lifers in congress have a shred of understanding what the _____ Bernanke is doing..

    :shakehead:
     
  19. Well, Bumbling Benji has pushed the EU into the "the race to debase"...........or at least upped the anty.

    Britain was a glimmer of hope, saying that QE wasn't giving the desired results and had suspended it, but now Government Sux has their boy in the top spot now in Britain, they will be printing like there is no tomorrow.