Sunday, November 14, 2010

Monetary Stalemate: Quantitative Easing Wont Work

by Bob Chapman via http://www.globalresearch.ca/index.php?context=va&aid=21893

Mr. BBob  Chapmanernanke is trying to avoid the Japanese experience of the past 20 years. Underlying deflation is being offset again, as it has been for the past eight years, by creating more money and credit. The only one lose to our prediction of mid-May of $5 trillion over two years is Keynesian economist Paul Krugman. He said the Fed would need $6 trillion. The Republicans seized the House and all that has really been accomplished is gridlock, the end of stimulus and a cut of perhaps $100 billion in debt.


Mr. Bernanke’s new round of debt buying has upset nations worldwide, yields in the US fell and the stock market rose, as did gold, silver and commodities.


The elections saw about 100 seats change hands. The Republicans now control the House and the Democrats the Senate. An unfortunate result because little can be accomplished at a time when the American economy and financial structure is in upheaval. Congress has to deal with criminal mortgage and bond fraud on a massive scale as the banks and Wall Street attempt to stay out of jail. America needs experienced evenhanded leadership and except for Ron Paul none is in sight. Still prevalent behind the scenes is the sea of bureaucrats from both parties that want world government and they are not going to disappear anytime soon. The rot is still controlling the system and we look for it to get progressively worse. Still, too many Americans have not awakened from their slumber. Banking reform is out of the question. There are still too many members of the House and Senate who have been totally compromised over the last 30 years. They would never vote for real bank reform or terminating the Federal Reserve. Democrats who voted for the house bill all knew votes would change when the Senate handled their side of the vote.
read more >>>>

No comments:

Post a Comment