How QE Boosted Inequality To Levels Surpassing The Great Depression

[Geaux4it]

Dummy Obama and his conga line of failures are epic.

QE was nothing more than putting off the pain.. Kick the can down the road.. on and on..

The chickens will come home to roost

-Geaux

The "Massive Gift" That Keeps On Giving: How QE Boosted Inequality To Levels Surpassing The Great Depression

A week ago, the official truth about QE, once upon a time mischaracterized as being a means to boost US employment (which is misreported in such an optimistically biased way that even the Fed now admits is ridiculous, and had to scrap its forward guidance as a result) and grow the economy, emerged when the Fed's Fisher admitted that "QE was a massive gift intended to boost wealth."

The story here: The "Massive Gift" That Keeps On Giving: How QE Boosted Inequality To Levels Surpassing The Great Depression | Zero Hedge

 

[Sallow]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

 

[DriftingSand]

I had to do a little searching to figure out what QE meant. I'm guessing that it's "Quantitative Easing" which is a last ditch ploy by the banks to stimulate the economy when nothing else works?

If that's what you mean then I fully agree with the OP. Obama and friends are scraping the bottom of the barrel to figure out how to stay afloat for the next 3 years and this economic facade is their answer. TOTAL IRRESPONSIBILITY on their part!!!

The next President is going to have a massive mess on his hands. (I say "his" because I refuse to believe that America would be stupid enough to vote Hilary into office).

 

[DriftingSand]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Solutions:

1) Stop scaring corporations into moving their operations overseas.
2) Create an atmosphere that encourages small businesses (and big businesses) to thrive instead of burdening them with top-heavy regulations and tax burdens.
3) Reduce government's influence and presence in the free market.
4) Stop letting the environmentalists block all attempts to use America's natural resources and start drilling for oil here in America (on a larger scale). We could rapidly pay off our national debt and become a lending nation instead of a borrowing nation. We would put millions back to work in good paying jobs and we would reduce our dependence on foreign oil.

For starters ...

 

[LoneLaugher]

Isn't this sweet! More than a few USMB weirdo's have played this hand in the past week or so.

Nutters have finally realized that income inequality doesn't play well at the ballot box. Can they do it? Can they get enough social-Neanderthal dummies to believe that liberals want the income gap to increase before it's too late? Is 6 months enough time?

Weeeeeeeeeeeeeeeeeeeee!

 

[Geaux4it]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Well, after Obama duped (sorry frank) the 51% that the 1% are evil... here ... vote for me...then turned around and implemented QE to pay them back, this is what we get.

What a sweet deal.

It's just we didn't get it on camera when he whispered in the 1% ear- 'Wait until after I'm re-elected, I will have more flexibility then.

-Geaux

 

[Antares]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Friedman is an idiot and you don't know much about Keynes do you?

Keynes advocated counter-cyclical measures.

Do some research.

 

[Geaux4it]

I had to do a little searching to figure out what QE meant. I'm guessing that it's "Quantitative Easing" which is a last ditch ploy by the banks to stimulate the economy when nothing else works?

If that's what you mean then I fully agree with the OP. Obama and friends are scraping the bottom of the barrel to figure out how to stay afloat for the next 3 years and this economic facade is their answer. TOTAL IRRESPONSIBILITY on their part!!!

The next President is going to have a massive mess on his hands. (I say "his" because I refuse to believe that America would be stupid enough to vote Hilary into office).

Yes, you are on track.

-Geaux

 

[LoneLaugher]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Solutions:

1) Stop scaring corporations into moving their operations overseas.
2) Create an atmosphere that encourages small businesses (and big businesses) to thrive instead of burdening them with top-heavy regulations and tax burdens.
3) Reduce government's influence and presence in the free market.
4) Stop letting the environmentalists block all attempts to use America's natural resources and start drilling for oil here in America (on a larger scale). We could rapidly pay off our national debt and become a lending nation instead of a borrowing nation. We would put millions back to work in good paying jobs and we would reduce our dependence on foreign oil.

For starters ...

Please do me a favor. Pick one of those points.....the one that you think is the most important.

Thanks.

 

[Antares]

Isn't this sweet! More than a few USMB weird's have played this hand in the past week or so.

Nutters have finally realized that income inequality doesn't play well at the ballot box. Can they do it? Can they get enough social-Neanderthal dummies to believe that liberals want the income go to increase before it's too late? Is 6 months enough time?

Weeeeeeeeeeeeeeeeeeeee!

The 2014 election cycle is and will remain a one issue election.

The ACA.

 

[DriftingSand]

Hmmmm ... how can I "fix" the economy?

Oh, I know, we can grow a money tree:

In a nutshell, that's all there really is to it. They decided to print money to pay the bills. I wish I could print money to pay the bills but that wouldn't be a realistic solution now would it?! If I printed money I would be accused of counterfeiting. Dollars are supposed to be backed by something of tangible value (silver or gold, etc.) but the money that Obama's team printed is backed by thin air.

 

[LoneLaugher]

Hmmmm ... how can I "fix" the economy?

Oh, I know, we can grow a money tree:

In a nutshell, that's all there really is to it. They decided to print money to pay the bills. I wish I could print money to pay the bills but that wouldn't be a realistic solution now would it?! If I printed money I would be accused of counterfeiting. Dollars are supposed to be backed by something of tangible value (silver or gold, etc.) but the money that Obama's team printed is backed by thin air.

Interesting. You seem really, really knowledgable.

What, may I ask, were our dollars backed by in the 30 years preceding thie election of Barack Obama?

Please....keep it simple for us idiots.

 

[editec]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Sallow,


The solution wasn't to reconstutute these banks it was to take them over completely by BUYING UP their worthless stock at MARKET PRICES. (Same with GM and AIG, BTW)

I doubt KEYNES would have advocated the "solution" that started under BUSH II and continued and was augmented under Obama.

 

[zeke]

Damn that QE. I GOT BACK EVERY SINGLE DIME I LOST WHILE GEORGE BUSH WAS PRESIDENT AND THEN SOME.

Damn that QE.

But what I don't get is the anger the right wingers are showing on here against the 1%. What the fuck is up with that. The right wingers LOVE them some 1%ers.

It's all good right wongers. The 1% will eventually control even more of the nations wealth and income.
Just like you all wanted all along.

 

[DriftingSand]

Sorry?

Your solution would have been what?

Have the Market collapse and massive unemployment as a result?

You folks would be singing a different tune if that happened.

Put it wouldn't be praising Obama.



By the way both Keynes and Friedman would have advocated for something like this..

Solutions:

1) Stop scaring corporations into moving their operations overseas.
2) Create an atmosphere that encourages small businesses (and big businesses) to thrive instead of burdening them with top-heavy regulations and tax burdens.
3) Reduce government's influence and presence in the free market.
4) Stop letting the environmentalists block all attempts to use America's natural resources and start drilling for oil here in America (on a larger scale). We could rapidly pay off our national debt and become a lending nation instead of a borrowing nation. We would put millions back to work in good paying jobs and we would reduce our dependence on foreign oil.

For starters ...

Please do me a favor. Pick one of those points.....the one that you think is the most important.

Thanks.

Actually, the 4 points are intertwined but I would really like to see America become the world's number 1 producer of oil. I would like to see a second industrial revolution on our shores. I do believe we should do so responsibly and without destroying waterways, forests, etc. but I believe it can be done. Unfortunately, the government has so over-regulated industry that they've forced many strong companies to move elsewhere (thanks, in part, to the various globalist treaties we've signed and thanks, in part, to greedy unions).

Anyway, I'm not sure if I answered your request.

 

[DriftingSand]

Damn that QE. I GOT BACK EVERY SINGLE DIME I LOST WHILE GEORGE BUSH WAS PRESIDENT AND THEN SOME.

Damn that QE.

But what I don't get is the anger the right wingers are showing on here against the 1%. What the fuck is up with that. The right wingers LOVE them some 1%ers.

It's all good right wongers. The 1% will eventually control even more of the nations wealth and income.
Just like you all wanted all along.

The dollars you got back don't have the same value/worth that they used to. Prices, taxes, fees, etc. have all gone up since then.

 

[DriftingSand]

Interesting. You seem really, really knowledgable.

What, may I ask, were our dollars backed by in the 30 years preceding thie election of Barack Obama?

Please....keep it simple for us idiots.

Exactly my point. And thus we find ourselves in the TOTAL mess we're in. Yes ... it had a starting point back in the day. It didn't happen over night. We can actually thank FDR for getting the ball rolling by taking us off of the gold standard.

 

[LoneLaugher]

Interesting. You seem really, really knowledgable.

What, may I ask, were our dollars backed by in the 30 years preceding thie election of Barack Obama?

Please....keep it simple for us idiots.

Exactly my point. And thus we find ourselves in the TOTAL mess we're in. Yes ... it had a starting point back in the day. It didn't happen over night.

Oh! Was that your point? You are really interesting.

So...for nearly a half century, the US dollar has been fake? Is our entire economy based on little more than beanie babies and Bitcoin?

Is that what you wanted to say? Funny.....you specifically mention Obama's printing press. You forgot to include his predecessors. I wonder why?

 

[LoneLaugher]

Oh! It's FDR! Our economy has been a sham since FDR?!!! Amazing!

You are so interesting!

 

[DriftingSand]

Interesting. You seem really, really knowledgable.

What, may I ask, were our dollars backed by in the 30 years preceding thie election of Barack Obama?

Please....keep it simple for us idiots.

Exactly my point. And thus we find ourselves in the TOTAL mess we're in. Yes ... it had a starting point back in the day. It didn't happen over night.

Oh! Was that your point? You are really interesting.

So...for nearly a half century, the US dollar has been fake? Is our entire economy based on little more than beanie babies and Bitcoin?

Is that what you wanted to say? Funny.....you specifically mention Obama's printing press. You forgot to include his predecessors. I wonder why?

Oh! It's FDR! Our economy has been a sham since FDR?!!! Amazing!

You are so interesting!

I'm blaming Obama and his bankster friends for the current situation but I believe that the problem started with centralizing the banks and giving power over America's money to the Federal Reserve Bank. But I don't just blame Democrats. Nixon and friends also have a hand in our current mess as well as the Bush boys.

I simply believe that true wealth is based on tangible, usable goods and productivity. I don't believe that printing paper money is going to solve anything. If we're going to print 1 trillion dollars to pay the bills then we may as well print 50 trillion dollars and throw a party.