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It's funny how guys like Shumer will cry and scream that trickle down is a failed idea but here he is begging for more of it.
Sen. Chuck Schumer, D-N.Y., exhorted Federal Reserve Chairman Ben Bernanke to stimulate the economy before November through some form of quantitative easing or other monetary policy, which Bernanke said could create jobs.
We have had QE I and II with unemployment still high but Wall Street profits soaring. Shumer is begging for even more of what does not and can not work. You can not take from Main Street in the form of inflation (which is what QE does), give it to Wall Street and hope to see improvements in the economy.
Before November. How convenient. Stimulus did nothing to "create" jobs, QE I, QE II have done nothing but inflate the market. But hey in their eyes all we need is MORE money thrown at the problem and all will be well.
My idea is that every specific body strives to become master over all space and to extend its force (--its will to power) and to thrust back all that resists its extension. But it continually encounters similar efforts on the part of other bodies and ends by coming to an arrangement ("union") with those of them that are sufficiently related to it: thus they then conspire together for power. And the process goes on--
~from The Will to Power, s.636, Walter Kaufmann transl.~
It's funny how guys like Shumer will cry and scream that trickle down is a failed idea but here he is begging for more of it.
Sen. Chuck Schumer, D-N.Y., exhorted Federal Reserve Chairman Ben Bernanke to stimulate the economy before November through some form of quantitative easing or other monetary policy, which Bernanke said could create jobs.
We have had QE I and II with unemployment still high but Wall Street profits soaring. Shumer is begging for even more of what does not and can not work. You can not take from Main Street in the form of inflation (which is what QE does), give it to Wall Street and hope to see improvements in the economy.
I wonder if Schumer has seen the numbers about what cutting the full $500 billion will do to jobs, overall. I bet he doesn't at all think that the Obamacare robbing Medicare of $50 billion each year will cost any jobs.
Today I saw, on Fox, that it will cost very close to 2 million jobs to throw that $500 billion from the defense projects. How in hell are Schumer and buddies going to provide enough jobs to make up for all the jobs this non-cut in spending will bring on?
I bet he doesn't even realize how much money in lost income taxes will come from those job losses. How stupid are the American people if they let Chunky and his people get by with all these things.
It really is disturbing, they all claim disdain for trickle down economics but beg the fed to inject liquidity into the Markets.
In reality politicians want whatever keeps them in power so they have their lifelong perks and benefits.
You are surely right but they already have their lifelong perks and benefits since they keep their salary for life, even after retirement either personal or forced. We need to force many of them to retire this NOvember but I don't think may people know that.
Really. Schumer begging Bernanke to save Obama's cooked latistibles.
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