Thread: QE2 And The Death Of The A Nation

QE2 And The Death Of The A Nation

November 8, 2010
by Bob Livingston
Comments 183

Check those green slips of paper in your wallet. If they look a little smaller today, it’s because they are.

Helicopter Ben Bernanke announced last week he’s throwing more money out of the sky — $75 billion a month — as he tries to spur inflation to “saveâ€

The Election Can’t Save Us From The Fed

November 3, 2010
by John Myers
Comments 377

"We can pay anybody by running a printing press." — Thomas Gale Moore, a Ronald Reagan economic advisor, 1986.

Don’t expect America’s fortunes to change in the wake of yesterday’s election. Even if some semblance of sanity comes to Congress we are still left with that other dysfunctional institution, the Federal Reserve, which is bent on inflating the United States economy, the dollar be damned.

Part of the problem is Ben Bernanke, the chairman of the Federal Reserve. He was reappointed by President Barack Obama last year and has shown himself to be a kindred spirit to the President. Both had zero business experience before moving to government. Bernanke spent most of his life learning economics as taught by Harvard and MIT, before becoming a professor at Stanford and Princeton.

Bernanke has been hailed as the world’s leading expert on the Great Depression. If you are worried this doesn’t qualify him to help resurrect the U.S. economy you are probably right. It is doubtful that the Pentagon would have put famous historian A.J.P. Taylor in charge of combat operations in Vietnam because he knew so damn much about World War II.

Bernanke is making sure that the Fed does what the central bank calls quantitative easing. That is a fancy term for saying they are “printing moneyâ€