Pretty self explanatory. The claim that purchasing billions monthly worth of financial assets in order to increase the monetary base and free up reserves has no effect on employment or the "free market" is rather naive.
LOL! Come on dude! Rainman was accurate.
Rainman was accurate when you accidentally dropped a box of tooth picks in front of him......." 643 tooth picks, yea..time for Wapner "
As for your claims of Qe's effectiveness let's just say were NOT on our 3rd round of it because it did what it was supposed to do. It will NEVER have a POSITIVE effect on our economy because all it is is a asset swap.
QE1...Basically the FED buying massive amounts of toxic MBS's, from Fannie and Freddie no less which reminds me....we have a Lib poster here who likes to brag about Fannie and Freddie's " Success" and their mountains of profit....LOL !! Yea it's easy to make a profit when all of your toxic debt is being purchased by the Central Bank..
Anyway, it was supposedly meant to provide banks with massive amounts of liquidity, bail out the housing industry and trigger lending. Of-course, it didn't work, It didn't work because the underlying reason for the stagnant economy was ignored and after the 2008 Sub-Prime collapse there were not allot of people really looking for lines of credit. All it did was load up the FED's portfolios with massive amounts of toxic debt.
QE2, the FED's attempt to fight off deflation with " mild inflation" by buying massive amounts of assets, bonds and securities. Of-course it had no positive effect on the economy and just led to bonds and asset prices falsely over inflated in value with printed currency and a weaker and unstable dollar. A weaker dollar transmits directly to higher oil prices and prices on everything else. All it did was drive up gold prices as people hedged against the FED overshooting and if anything hurt the economy.
QE3....Wow, poor Bernake, forced to push this monetary malfeasance under the most corrupt and incompetent President in our Nations History. NO amount of QE is going to help this desperately sick economy. QE3 is there for one reason, and that's to keep Obama's massive new debt,.....cheap as the FED buys up unprecedented amounts of short term treasuries, keeps paying banks interest on their MASSIVE reserves so he can influence their overnight rates and removes the risk from Wall Street investors.
No, the DOWs record climb has nothing to do with anything that's REAL, it's backed by Bernake's perpetual QE, as low interest rates removes the risk on otherwise risky private securities.
No, QE is a disaster for us, as the FED and Democrats completely ignore the real underlying issues of our stagnant economy and with these policies of perpetual QE, guarantee the economies of the future are held back with a massive inflationary weight that's currently being constructed by Bernake's printing.
It is by far, the most destructive thing Obama has done to the Country and is by far the biggest lie. Obama's economy, one man controls it, ( Bernake ) and as soon as he says enough, that QE is going to stop, that's the end.
Because there will be a massive sell off of overvalued securities and bonds, and a spike in Bond yields as interest rates climb to bring all of that excess money back.
