So, I am curious what fellow snuson members feel about this QE2 quantitive easing nonsense that is going on. It is a bigger deal than the news is making it and was wondering which train of though people here subscribe to:
1) That creating 600 billion new dollars will stimulate the economy, and be equally as successfull as tarp, the stimulis, and that last round of QE.
2) That the fed has nothing left in it's bag of tricks, and represents a last desperate attempt at kicking the can down the road for another couple of years to make the banks look solvent and make the illusion that things are okay.
3) That this will all end in a hyperinflationary armaggeddon.
The dollar is being debauched at the hands of the Fed, and the massive debt and future commitments we owe will never be paid off in “real” money. Boston University Economist Laurence Kotlikoff says the real amount America is on the hook for is $202 trillion. For perspective, just one trillion dollars is a stack of $100 bills nearly 68 miles high.
Earlier in the year, the IMF effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount rates.” It adds that “closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 percent of U.S. GDP.”
Based on the CBO’s data, the fiscal gap of $202 trillion, which is more than 15 times the official debt. This is a deficit that will never be paid off as it is mathematically impossible in our current system.
The scale of what the Federal Reserve is doing is unparalleled in human history. No country has ever produced so much money and so much debt in such a short amount of time. And it leaves it open ended, leaving the possibility open that it will do yet another round next year.
If this is the case, and our debt can never be repaid and a much larger collapse is bound to happen at some point, than what do you think will become of the United States.
NOTE: Lets try not to make this the normal circle jerk Obama bashing thread, we all know he sucks but this is really above his head. When people talk about the puppet masters that "really" control things, the federal reserve and large banking intirests such as this are the ones they refer to. No president can stop this.
1) That creating 600 billion new dollars will stimulate the economy, and be equally as successfull as tarp, the stimulis, and that last round of QE.
2) That the fed has nothing left in it's bag of tricks, and represents a last desperate attempt at kicking the can down the road for another couple of years to make the banks look solvent and make the illusion that things are okay.
3) That this will all end in a hyperinflationary armaggeddon.
The dollar is being debauched at the hands of the Fed, and the massive debt and future commitments we owe will never be paid off in “real” money. Boston University Economist Laurence Kotlikoff says the real amount America is on the hook for is $202 trillion. For perspective, just one trillion dollars is a stack of $100 bills nearly 68 miles high.
Earlier in the year, the IMF effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount rates.” It adds that “closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 percent of U.S. GDP.”
Based on the CBO’s data, the fiscal gap of $202 trillion, which is more than 15 times the official debt. This is a deficit that will never be paid off as it is mathematically impossible in our current system.
The scale of what the Federal Reserve is doing is unparalleled in human history. No country has ever produced so much money and so much debt in such a short amount of time. And it leaves it open ended, leaving the possibility open that it will do yet another round next year.
If this is the case, and our debt can never be repaid and a much larger collapse is bound to happen at some point, than what do you think will become of the United States.
NOTE: Lets try not to make this the normal circle jerk Obama bashing thread, we all know he sucks but this is really above his head. When people talk about the puppet masters that "really" control things, the federal reserve and large banking intirests such as this are the ones they refer to. No president can stop this.
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