View Poll Results: Is QE Socialism for the Rich and Bankers?

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Thread: Is QE Socialism For the Rich and Bankers?

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    Is QE Socialism For the Rich and Bankers?

    The Federal Reserve engaged in QE by bailing out the big banks and keeping interest rates low. The Fed literally took trillions of dollars in bad debt from the big banks and place it on its books where it sits to this very day. It did not take any debt from ordinary consumers. Not only that, but keeping interest rates low has artificially driven up asset prices, which is where the rich have their wealth. This has resulted in the rich getting richer, while at the same time middle class wages have basically remained stagnant.

    Is the Fed engaging in socialism for the rich and bankers?

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    Re: Is QE Socialism For the Rich and Bankers?

    The bailout and QE were different things.

    QE was a purchasing of bonds, a trade. The bailout is exactly what it is, debt forgiveness in its purest form.

    And how long are you going to blame the fed for keeping interest rates low? At the end of the day, the market determines the interest rates. They are the ultimate decider, not the fed. Bernanke himself even stated that the fed wanted to align itself with what the market was naturally doing.

    Fail.
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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by MildSteel View Post
    The Federal Reserve engaged in QE by bailing out the big banks and keeping interest rates low. The Fed literally took trillions of dollars in bad debt from the big banks and place it on its books where it sits to this very day. It did not take any debt from ordinary consumers. Not only that, but keeping interest rates low has artificially driven up asset prices, which is where the rich have their wealth. This has resulted in the rich getting richer, while at the same time middle class wages have basically remained stagnant.

    Is the Fed engaging in socialism for the rich and bankers?
    USA wages had priced much of USA manufactured goods out of World price ranges. The Oligarchy must drive wages down to keep the same structural manufacturing operation and ownership that they control. The Oligarchy/Banks/Traders/Stock Markets move paper around to generate ever larger profits. These profits are not tied to labor/manufacturing/productive industries, but just paper profits. The massive volume of this wealth is allowing banks/hedge funds/traders to control other Countries and purchase productive assets that use overseas labor and they do this with a "fiat paper" whos' real value is based upon faith. Maybe they can get the Pope to give this faith-based money a little boost with a blessing of the faithful. They's sumpin' slippin' heah, don't ya' know?

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by Luftwaffe View Post
    The bailout and QE were different things.

    QE was a purchasing of bonds, a trade. The bailout is exactly what it is, debt forgiveness in its purest form.
    No, they are the same thing. What is that? Socialism for the rich and bankers. You can call it quantitative easing, you can call it debt forgiveness, or to borrow from the Israelis when referring to the idea of a Palestinian state, you can call it fried chicken if you want. What it is, is socialism for the rich.

    Quote Originally Posted by Luftwaffe View Post
    And how long are you going to blame the fed for keeping interest rates low?
    Do you have any idea what you are talking about? Do you have any idea what monetary policy is, and how it works? That moronic propaganda about free markets is crap. The Fed is merely manipulating the market for the benefit of the rich and bankers. How much of the trillions of dollars that the banks have parked in their accounts at the Fed has "trickled down" to the middle class? Go peddle that nonsense somewhere else.

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by DaveFagan View Post
    USA wages had priced much of USA manufactured goods out of World price ranges. The Oligarchy must drive wages down to keep the same structural manufacturing operation and ownership that they control. The Oligarchy/Banks/Traders/Stock Markets move paper around to generate ever larger profits. These profits are not tied to labor/manufacturing/productive industries, but just paper profits. The massive volume of this wealth is allowing banks/hedge funds/traders to control other Countries and purchase productive assets that use overseas labor and they do this with a "fiat paper" whos' real value is based upon faith. Maybe they can get the Pope to give this faith-based money a little boost with a blessing of the faithful. They's sumpin' slippin' heah, don't ya' know?
    YEP! Socialism for the rich, capitalism for the poor.

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by MildSteel View Post
    The Federal Reserve engaged in QE by bailing out the big banks and keeping interest rates low. The Fed literally took trillions of dollars in bad debt from the big banks and place it on its books where it sits to this very day. It did not take any debt from ordinary consumers. Not only that, but keeping interest rates low has artificially driven up asset prices, which is where the rich have their wealth. This has resulted in the rich getting richer, while at the same time middle class wages have basically remained stagnant.

    Is the Fed engaging in socialism for the rich and bankers?
    You are mixing many things together and simply calling it QE. Bailouts is different than issuing low interest bonds or pumping funds into the federal reserve. Since middle class wage stagnation preceded both the bailouts and QE, saying that it remained "unchanged" is much like saying that folks eating more French toast for breakfast did not affect pizza sales.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by ttwtt78640 View Post
    You are mixing many things together and simply calling it QE.
    This is a bunch of crap that is devised to cloud the issue at hand. QE and bank bailouts are all part of the response by the Federal Reserve to the financial crisis of 2008. Both have benefited the rich and bankers and are part of the same program of socialism for the rich and bankers. The title uses the term QE loosely to refer to this program of socialism for the rich. Please stop trying to obfuscate the issue in this way.

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by MildSteel View Post
    No, they are the same thing. What is that? Socialism for the rich and bankers. You can call it quantitative easing, you can call it debt forgiveness, or to borrow from the Israelis when referring to the idea of a Palestinian state, you can call it fried chicken if you want. What it is, is socialism for the rich.



    Do you have any idea what you are talking about? Do you have any idea what monetary policy is, and how it works? That moronic propaganda about free markets is crap. The Fed is merely manipulating the market for the benefit of the rich and bankers. How much of the trillions of dollars that the banks have parked in their accounts at the Fed has "trickled down" to the middle class? Go peddle that nonsense somewhere else.
    Not so, by keeping interest rates (artificially?) low it also benefits the borrow and spend mindset of our POTUS and congress critters by reducing interest on the, ever growing, national debt. A side effect of those low interest rates also increases federal income tax revenue since it lowers the mortgage interest deduction "expense", reduces government bond tax free interest and increases the revenue from capital gains.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by MildSteel View Post
    This is a bunch of crap that is devised to cloud the issue at hand. QE and bank bailouts are all part of the response by the Federal Reserve to the financial crisis of 2008. Both have benefited the rich and bankers and are part of the same program of socialism for the rich and bankers. The title uses the term QE loosely to refer to this program of socialism for the rich. Please stop trying to obfuscate the issue in this way.
    Indeed, using terms "loosely" does tend to obfuscate issues.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Is QE Socialism For the Rich and Bankers?

    Quote Originally Posted by ttwtt78640 View Post
    Not so, by keeping interest rates (artificially?) low it also benefits the borrow and spend mindset of our POTUS and congress critters by reducing interest on the, ever growing, national debt. A side effect of those low interest rates also increases federal income tax revenue since it lowers the mortgage interest deduction "expense", reduces government bond tax free interest and increases the revenue from capital gains.
    Let's think about this. The USA gave the USA Treasury to the big banks to the tune of at least $4 TRILLION. They gave four trillion to the rich and they are keeping the money in the banking circle of paper profits. Now, how does that help John Q. Citizen, the taxpayer. That would be CORPORATISM, or as Mussolini stated, "Why do they call it Fascism, it is CORPORATISM."

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