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No, it's all the information you should have had, but didn't. And of course still don't.
Quote:
Originally Posted by Themanwithnoname
USD are debt (look it up)
LOL! In the sense that currency is a liability on the Fed's balance sheet. Currency of course is an IOU. But it can be enforced against anyone in the US economy. I can use my ten dollar bill to force the convenience store to give me a large hotdog and a great big slushee thing. They owe me that.
Quote:
Originally Posted by Themanwithnoname
It adds to the supply of USD...
It adds to the monetary base by increasing bank excess reserves held at the Fed. These are NOT part of the money supply.
Quote:
Originally Posted by Themanwithnoname
Adding to the debt and stealing money from all of us by this little thing called inflation.
QE3 does NOT create new debt. Existing debt in the form of interest-bearing notes are voluntarily given over to the Fed in exchange for credits to bank excess reserves. That's all that happens.
Quote:
Originally Posted by Themanwithnoname
(look that up too)
I don't have to. I know how all this works. You do not.
Economies grow when you put money in the hands of the consumer which is typically the working class. Honestly, I wouldn't believe it be solely based on a political party in office, but statistics would prove me wrong.
Nixons actions created the late 70's boom, and bust when Ford lifted the price freezes. Reagan tax cuts increased the national debt, and it never did trickle down. Clinton and Gingrich worked together and balanced the budget, and both served the longest expansion in history. Bush gets the blame for 08, but was many factors that created it. The surge in sub primes in 2002, and lack of oversight (Alan Greenspan's push for deregulation) with a run up in real estate was even compounded further when the barrel of oil hit a record high of $147 in July of 07. Both Bush (tarp), and Obama (stimulus) have tried to hold off the effects, but there's been a lot of damage.
America is the melting pot, and is responsible for most new innovations. Reality is that we just need to get money in the hands of the consumer, because it is the single largest component of our economy.
The authors did that and found no statistically significant correlation. It was just the President that seemed to matter. But as in 2009-10 versus since, giving the President a Congress he can work with can sure make a difference. Republican control of the House brought its own little mini-recession in 2011-I, and it's been little more than treading water since.
Detroit, the poster child for economic growth under democrats.
Detroit, run by Democrats since 1962, Bankrupt.
And what political party did the companies ascribe too that shifted the jobs from Detroit that cut its population in half? It's real easy to assign blame, but quite another understand the cause. Detroit's real downfall is outsourcing, and has little to do with political gamesmanship after the fact.
Think about who gets hurt here. Management walks away with millions while working class people get screwed out of what was promised. Are you really against working men & women?
The economy was smoking hot when Carter was president, but was caused by the Nixon price freezes being lifted by Ford. It eventually was slowed by the fed (Volcker) as prime lending rates hit all time high under Reagan in the early 80's. I never missed a days work in construction during this time.
Your post is what's wrong with listening too biased media.
Amazing how the economy has grown with this president!
No it hasn't - unless you use the Dow Jones as your sole basis for determining whether or not the economy is growing.
I like to include things such as the labor participation rate, first time unemployment claims, business earnings reports, housing prices & new construction starts, and the price of oil.
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