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$2 Trillion of which went to Fannie and Freddie and the tens of thousands who just stopped paying their mortgages (because they shouldn't have gotten them anyway, too low-income and high-risk) and got their homes for free after the statute of limitations expired on foreclosure.
And QE isn't just a giveaway. It devalues the $, thereby causing a seemingly invisible to most 'inflation tax.' And it also increases the National Debt, which incurs the expense of additional interest. Who do you think is paying the interest on all the additional US Treasuries created that the Federal Reserve bought and is holding on their books, etc.?
QE isn't welfare. It creates a debt. Food Stamps, Medicaid, Section 8 Housing etc., does not create a debt owed by its recipients.
When the dollar drops in value, the rich loses the most as their wealth is based on dollar.
How is that a welfare? More like getting screwed.
Last edited by lifeexplorer; 03-12-2017 at 07:24 AM..
Wasn't the asinine "Trickle-Down" theory, AKA Ronald Reagan's "Voodoo Economics" ?
Obama engaged in more trickle down economics than any president in US history in sheer numbers.
Quantitative Easing is a form of Trickle Down economics. If Obama, opposed the Fed policy, he shouldn't have made every Fed pick big or small for a QE pusher. QE didn't start until Obama won and met with Bernanke, who he then quickly renominated.
What is sad, is that Obama on several occasions would blast trickle down in unqualified terms and his Democrat supporters would cheer...the Democrats were either ignorant or accepting of his lies.
1. You haven't explained QE.
2. What would happen to everyone's pension, 401k and IRA?
You argue Socialism is wrong. You argue wealth redistribution scheme's are wrong. Q.E. was the largest Socialist redistribution scheme in the history of the world. But here you are defending it.
In Capitalism, which you will claim you do support what happens if you make a bad investment? You lose right? You don't get bailed out by others, right? Getting bailed out is Socialism.
At least be honest, you are OK with Socialism and not a fan of Capitalism unless it is benefiting you.
$2 Trillion of which went to Fannie and Freddie and the tens of thousands who just stopped paying their mortgages (because they shouldn't have gotten them anyway, too low-income and high-risk) and got their homes for free after the statute of limitations expired on foreclosure.
And QE isn't just a giveaway. It devalues the $, thereby causing a seemingly invisible to most 'inflation tax.' And it also increases the National Debt, which incurs the expense of additional interest. Who do you think is paying the interest on all the additional US Treasuries created that the Federal Reserve bought and is holding on their books, etc.?
QE isn't welfare. It creates a debt. Food Stamps, Medicaid, Section 8 Housing etc., does not create a debt owed by its recipients.
Nobody is paying it. Nobody's taxes have gone up to pay for it. Hence, it is welfare.
You argue Socialism is wrong. You argue wealth redistribution scheme's are wrong. Q.E. was the largest Socialist redistribution scheme in the history of the world. But here you are defending it.
This is where financial illiteracy stunts your understanding of who bears the greatest burden when QE devalues the $.
As quite simply explained by lifeexplorer, those who have the most, lose the most, as their $ are devalued the same as everyone else's.
This is where financial illiteracy stunts your understanding of who bears the greatest burden when QE devalues the $.
As quite simply explained by lifeexplorer, those who have the most, lose the most, as their $ are devalued the same as everyone else's.
I didn't expect you to actually address my point. It doesn't matter who is affected the most. It's Socialism. It's great when it benefits you. Screw Capitalism when you lose.
It's added to the National Debt. Who pays the taxes to service the National Debt? Food Stamps recipients? Highly doubtful.
Nobody is. It's 20 trillion dollars.
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