The Federal Reserve embarks on QE3, which involves purchasing $40 billion in mortgage-backed securities each month - indefinitely.
To whom that makes more sense than just cutting the corporate tax rate, cutting everybody's income tax rate, repealing Dodd-Frank and FHer-care, prying the EPA's grip off the coal and oil industries, preparing to put Medicare and Social Security on a voucher basis in about ten years, and shutting down the Departments of Energy, Education, Agriculture and Health and Human Services is beyond me. Well, actually, it's not. It makes all the sense in the world to the egg-heads and Marxists who constitute the Overlord Class.
and to Bush appointee Ben Bernanke...
ReplyDeleteReason no. 5417 why I am reluctant to defend W. You know my assertion. We have had only 2 conservative presidents in the history of the modern ideological landscape: Dutch and Calvin Coolidge.
ReplyDeleteWow, Calvin Cooledge, what a legacy.
ReplyDelete"They're saying that the punch bowl, the fuel for the economy, isn't going away — it's going to be here as long as you need it," said Tony Fratto, a former aide to President George W. Bush and managing partner at Hamilton Place Strategies, a policy consulting firm in Washington.
The Dow closed up 206.51 points, the seventh-biggest gain this year, at 13,539.86, its highest close since the last days of December 2007, the first month of the recession.
http://www.csmonitor.com/Business/Latest-News-Wires/2012/0913/Fed-stimulus-sends-stocks-soaring-to-4-year-high-video
We also heard yesterday that the AIG Bailout was a success but I am sure you will skewer that one.
ReplyDelete