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We are officially in year 5 of the economic "recovery" and yet we have had to increase economic QE stimulus year by year. We are creating $85,000,000,000.00 in new money each and every month to buy various securities like bonds and mortgage backed securities. This has had the effect of:
1) Keeping down the interest rates
2) Making the nations debt more serviceable as we pay less in treasuries
3) Helping the housing market recover as homes are more affordable with artificially lower mortgage rates
4) Encouraging people to put money into stocks instead of bonds/treasuries
However, the Fed cannot continue this money creation for ever without damaging the economy. At some point even Obama will understand that.
Since when does a recovery mean increasing and continuing economic QE stimulus year by year to all time record levels of $85,000,000,000.00 a month?
Since Obama declared "recovery" over 4 years ago:
1) We have continued and increased QE economic stimulus
2) Poverty rates have risen
3) Median Household Incomes have fallen
4) Labor Participation for 25 to 54 year olds has fallen
5) Food Stamp use has risen
6) The amount of recent college grads that live at home with mom AND don't have a college degree type job have increased
7) African-American youth unemployment has increased to over 40%
When will the QE stimulus be tapered off if we are in year 5 of Obama's mission accomplished recovery?
And they have no idea of any history that happened prior to 2008.
So their opinion on this and any other topic of economics is irrelevant.
In order to make it look like Mr. President is competent, they're letting him spend whatever he likes without the usual inconvenience of governing with the cooperation of Congress.
Bernanke will pass the printing baton to Ole Yeller.
When the spending party is over and everyone has to take a bite of the reality sandwich, be ready.
Since Obama declared "recovery" over 4 years ago:
1) We have continued and increased QE economic stimulus
2) Poverty rates have risen
3) Median Household Incomes have fallen
4) Labor Participation for 25 to 54 year olds has fallen
5) Food Stamp use has risen
6) The amount of recent college grads that live at home with mom AND don't have a college degree type job have increased
7) African-American youth unemployment has increased to over 40%
When will the QE stimulus be tapered off if we are in year 5 of Obama's mission accomplished recovery?
1. So has practically every other country.
2. Poverty rates haven't really changed much in 30 years.
3. Median income has been falling since 1999
4. Your first legitimate point.
5. Usage has been increasing since 2000. The requirements were relaxed in 2002, 2008, and 2009.
6. Another legitimate point. You kinda have to question why they aren't using their degree. At the bare min a degree will get you a job making $2-3K/month teaching English overseas. The only person I know that isn't using her degree majored in French.
7. They also have the lowest education and highest crime offender rates, so it is to be expected that they will have the highest unemployment rate. However, their unemployment rate is improving.
And they have no idea of any history that happened prior to 2008.
So their opinion on this and any other topic of economics is irrelevant.
In order to make it look like Mr. President is competent, they're letting him spend whatever he likes without the usual inconvenience of governing with the cooperation of Congress.
Bernanke will pass the printing baton to Ole Yeller.
When the spending party is over and everyone has to take a bite of the reality sandwich, be ready.
This is the point in your message where your partisan perspective finally overwhelmed the validity of what you were writing.
To ensure that this thread has a message of some redeemable value, I'll mention that Janet Yellen now seems to be Bernake's heir apparent in truth.
Not because it's what Obama wanted.
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