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This is going to do more damage in the long run than help anything. And how can one not question the timing of this? Two months before the election? This is nothing but putting a temporary band aide on some numbers, so it will help Obama. Nothing more.
Probably China understands that and we have forgotten it-it is jobs and middle class which makes an economy strong-not just asking people to take more and more debt on low salaries to run economy.
Quote:
Originally Posted by florida.bob
Oh please. The Country needs jobs, this helps and will continue to help til no longer needed. Now if we can get the do nothings in Congress out of the way, Congress could help.
The Fed is a parasite. Yes, Bernake is a Republican and appointed by a Republican, but it doesn't matter who appoints the chairmen, because they will always answer to the owners (the banks) first, and the people of the US second. The duties of the Fed are to manage and supervise the economy, and to manage tha nations money supply. How did Greenspan handle those duties? FAIL. How is Bernake handing it? FAIL.
The Fed is a parasite. Yes, Bernake is a Republican and appointed by a Republican, but it doesn't matter who appoints the chairmen, because they will always answer to the owners (the banks) first, and the people of the US second. The duties of the Fed are to manage and supervise the economy, and to manage tha nations money supply. How did Greenspan handle those duties? FAIL. How is Bernake handing it? FAIL.
The Fed is supposed to keep some control on inflation and unemployment. If you look at the history of those things prior to and after the Fed, you may get a bit of appreciation for it's worth.
Oh please. The Country needs jobs, this helps and will continue to help til no longer needed. Now if we can get the do nothings in Congress out of the way, Congress could help.
Yes, harry reid needs to go...he is the only person who needs to get out of the way....When the house passes a BI-PARTISAN bill and reid says we are not voting on it....that is obstruction....take your blinders off..
You still have not answered the question, if QE -1 and QE-2 were so great...why QE -3?
Please inform us of how all these jobs will be created?
The Fed is supposed to keep some control on inflation and unemployment. If you look at the history of those things prior to and after the Fed, you may get a bit of appreciation for it's worth.
Interest rates are nothing more than the price of money, so this is nothing more than price fixing, which is the ant-capitalistic approach.
The affordability to own a house is much less than in a long time. Low interest rates, low home prices and low proiperty taxes makes it a very good deal.
If you save $700 per month in lower home payments, you probably won't worry so much about milk being .75 cents more expensive.
Two fold issue here...
1 - the criteria for somebody to qualify for a home loan are much more stringent.....if you don't put down 20% you are still going to be nailed with points. This isn't about getting people affordable homes...it's still a shakedown. The only thing that has changed is the actual prices of the homes are lower. I moved to NC about 2 years ago...so getting a house here was nothing as it was dirt cheap. But if I were back in NJ, houses are still very expensive and taxes are ridiculous.
Schumer wimped out on leadership of effective fiscal (tax and spending policy) policy. Nothing to praise. In fact, just the opposite. As Hillary said, "Shame on you Barack Obama!" In the absence of governing leadership, the Fed had to act. This not good that our government will not act in positive ways.
Quote:
Originally Posted by tofurkey
Remember, Sen. Schumer did urge Bernanke to do something.
1 - the criteria for somebody to qualify for a home loan are much more stringent.....if you don't put down 20% you are still going to be nailed with points. This isn't about getting people affordable homes...it's still a shakedown. The only thing that has changed is the actual prices of the homes are lower. I moved to NC about 2 years ago...so getting a house here was nothing as it was dirt cheap. But if I were back in NJ, houses are still very expensive and taxes are ridiculous.
2 - It isn't just the price of milk going up $.75
I'd also add this big factor to your list:
3 - With the poor economy and people still being laid off, why drop thousands of $ on a down payment if you could be out of a job tomorrow?
Congress has done their job, any number of times, by passing bills out of the House. Harry won't allow debate, compromise, or even a reconciliation process. The President could show some leadership. Instead he either sulks in the White House, or is out raising money, or campaigning. Again, this is about lack of leadership. No, it is on the progressives.
Quote:
Originally Posted by florida.bob
Oh please. The Country needs jobs, this helps and will continue to help til no longer needed. Now if we can get the do nothings in Congress out of the way, Congress could help.
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