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So will print magic money. I think the goal of the fed is too create massive inflation world wide with massive Inflation the 16 Trillion dollar debt will seem like nothing .IMHO
I think the banks are in trouble.. too many foreclosures and leaving the banks giving away homes in certain areas.they must be losing millions if not trillions of dollars.... The banks need money to lend in order to make money. This is such a tangled mess , it will be years till we recover and Obama is not helping matters by killing jobs because of his green energy policy.
Its sad that people think that this government / administration is helping them...nobody seems to care that their actions make it so they literally cant save any money. I mean if you have $100 in savings today, it earns $0.90 over 12 months...but by the end of that 12 months, your $100.90 is probably only buying about $97 worth of any product.
According to the announcement, this will go on until at least 2015...horrible news if you want to try and save money, thanks FED.
I think the banks are in trouble.. too many foreclosures and leaving the banks giving away homes in certain areas.they must be losing millions if not trillions of dollars.... The banks need money to lend in order to make money. This is such a tangled mess , it will be years till we recover and Obama is not helping matters by killing jobs because of his green energy policy.
Banks have the money to lend. Banks are sitting huge stockpiles of cash, as are many corporations. With Obama at the helm of our federal government everyone is waiting for the other shoe to drop on the economy.
Quote:
Originally Posted by t206
............According to the announcement, this will go on until at least 2015...horrible news if you want to try and save money, thanks FED.
The FED doesn't get all the credit. Obama's policies, Harry Reid refusing to allow a bipartisanly passed House budget to come up for a vote, and repetative elevations in the debt ceiling as passed by Congress all get some credit too.
The federal government is spending $1.5 trillion a year more than it collects in tax revenue. It is so much money that foreign countries and private citizens can not absorb purchasing the bonds to finance the debt load. So, the federal reserve is purchasing 60% of it's own bonds. Seems that they don't think the ponzi scheme is big enough and will now print an additional $40 billion of money a month to purchase 'mortgage backed securities' paying less than 1% interest.
Anybody know the name of the company that makes the ink for printing $100 bills?
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