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Old 08-27-2010, 11:26 AM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,337,796 times
Reputation: 3587

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Interesting article about hos the Fed plans to print massive amounts of money and buy up government debt and mortgages with it to try and save us from entering deflation. However I do not see how this will help. Mortgage rates are already at historic lows (as low as 3.25% for a 15 year) and even if the Fed drives them to 1% or less, when you have unemployment at 10+% and other jobs in grave danger, people are not exactly house shopping. Especially since that market is probably still going to fall more. I think the Fed is pretty much out of ammo unless they just print up huge bundles of hundred dollar bills and load them on USAF cargo planes and just drop them over large areas of the country. If they dropped maybe 2 trillion worth over large metro areas where the economy is bad, that might help things some.

Bernanke: Fed will take action if economy falters - Yahoo! Finance (http://finance.yahoo.com/news/Bernanke-Fed-will-take-action-apf-4107566310.html?x=0 - broken link)
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Old 08-27-2010, 11:30 AM
 
Location: Raleigh, NC
20,019 posts, read 15,739,151 times
Reputation: 3755
LOL at people thinking that Helicopter Ben was ever going to help.
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Old 08-27-2010, 11:34 AM
 
Location: Out in the Badlands
10,425 posts, read 8,792,353 times
Reputation: 7734
Nope its called "the unintelligent in Congress and the WH" that need to get the message and CHANGE!
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Old 08-27-2010, 11:37 AM
 
29,785 posts, read 16,467,363 times
Reputation: 13843
Who will save us from Ben?
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Old 08-27-2010, 11:38 AM
 
Location: Raleigh, NC
20,019 posts, read 15,739,151 times
Reputation: 3755
Quote:
Originally Posted by Frank DeForrest View Post
Who will save us from Ben?
^ this
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