Fed moves to boost weak US economy

Sep 13, 2012 | Posted by: roboblogger | Full story: West Australian

The Federal Reserve has announced bold, open-ended steps to stimulate the US economy and reduce high unemployment, saying it will spend $US40 billion a month to buy mortgage-backed securities for as long as necessary.

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Since: Feb 10

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#26
Sep 14, 2012
 

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We predicted last week that Bernanke would launch QE3 this week.

Today, the Fed announced that it will buy $40 billion dollars of mortgage-backed securities per month … indefinitely.

This is just another bailout for the big banks.(If the government had instead given money directly to the consumer, we would be out of this economic slump by now).

Bernanke claims that the main justification for QE3 is to boost employment. This is slightly ironic, since Bernanke’s policies are largely responsible for creating high unemployment in the first place.

The real justification is to try to artificially prop up asset prices. But that approach has been proven to be an absolute failure.

This is in addition to numerous other easing programs. As CNBC notes:


In addition, the Fed said it will continue its program of selling shorter-dated government debt and buying longer-term securities, a mechanism known as Operation Twist. It also will continue its policy of reinvesting principal payments from agency debt and mortgage-backed securities back into mortgages.

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“These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative,” the Fed statement said.

(scrool down and read this Excellently researched article)

http://www.washingtonsblog.com/

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#27
Sep 14, 2012
 

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Who is the FED? Hanky Panky Bernacke ain't nobody.

Haven't heard much from Helicopter Paulson since he was waterboarded on a US Navy Submarine have ya?
xnutmegger

Phoenix, AZ

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#28
Sep 14, 2012
 
Right or wrong.

Bernanke thinks he's holding down the fort until the pols stop the gridlock and do something , anything.
Not Now

Montgomery, TX

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#29
Sep 14, 2012
 

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Are the Feds some magical force that are more intelligent than the rest of us Americans? Bernanke sucks.
The 'trickle-down' theory: the principle that the poor, who must subsist on table scraps dropped by the rich, can best be served by giving the rich bigger meals.

Since: Mar 09

The Left Coast

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#30
Sep 14, 2012
 

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Progressive working people know this is the way to go. When things are tight, barely making the mortgage payment, credit cards are almost maxed out and there is a good chance you'll lose your job, the best thing to do is borrow some money and buy a new boat.
August

Belleview, FL

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#31
Sep 14, 2012
 

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Awesome, another solution that won't help the problem in any way!!! Just what I've come to expect from our wonderful government!

Since: Nov 08

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#32
Sep 14, 2012
 

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PooPoo Platter wrote:
<quoted text>
LOL!!! He doesn't need an island, Laughing Lobotomy. He has Hawaii!
He should spend all of December there, celebrating the Holidays, and his reelection...
US credit rating downgraded -- again...OBAMA COULD CARE LESS…..RE-ELECTION IS ALL HE CARES ABOUT…….THE PLANE, VACATIONS, AND THE BIG SECTION 8 WHITE HOUSE.

PUMPING BLAMED...

CASH FOR BANKERS: Fed risks political fallout...

Faber: If I Were Bernanke, I Would Resign...
Clint Eastwood

Chester, VA

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#33
Sep 14, 2012
 

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Ex-GOP Con wrote:
Good for them. The 1% obviously aren't doing their job with their Bush tax cuts savings by shipping the tax savings into overseas offshore accounts. Spend away to keep the economy going.


Get a Job azzh*le. You're spending way too much time posting your ignorance.
Clint Eastwood

Chester, VA

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#34
Sep 14, 2012
 

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Printing more money certainly ISN'T The Answer. That only creates another Bubble. Obama is strangling the economy while setting the Middle East on fire and giving them our Money so they can Kill our Ambassador. It's time to send him back to kenya.
Occupy this

San Francisco, CA

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#35
Sep 14, 2012
 

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RustyS wrote:
Progressive working people know this is the way to go. When things are tight, barely making the mortgage payment, credit cards are almost maxed out and there is a good chance you'll lose your job, the best thing to do is borrow some money and buy a new boat.
This is how Obozo has been running the country for the last 4 years.

I think he's trying to kill America. But that's just me...I could be wrong...but I'm not.
Elle est salope

AOL

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#36
Sep 14, 2012
 

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A fking Jew that we did not elect decides to trash the dollar so that wealth is transferred from the elderly to the homeowner and stock owner!
.
This will raise oil prices and the demographics is getting older for this as*hole to decide to push the elder back to the job market. The people are still shock from the 2008 surprise and they will not go into spending mood again for some time!
.
You can not make people spend by lending cheaper! Credit cards had already shock the people. When both inflation and debt take off exponentially, FIRE BERNANKE BACK TO ISRAEL!!!
Occupy this

San Francisco, CA

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#37
Sep 14, 2012
 
Clint Eastwood wrote:
Printing more money certainly ISN'T The Answer. That only creates another Bubble. Obama is strangling the economy while setting the Middle East on fire and giving them our Money so they can Kill our Ambassador. It's time to send him back to kenya.
The empty chair bit was great Mr. Eastwood. You should keep making westerns though. The Unforgiven was great, but you should just keep making them. America would watch your westerns even if you were a 110 year old gun fighter...

"dying ain't much of living boy."
Elle est salope

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#38
Sep 14, 2012
 

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StellarKnight wrote:
Quanitative easing is designed to destroy the economy.
40 billion dollars a month is NOT stimulus. That money goes to buy worthless counterfeit derivatives which will 'kill' the economy.
I agree with the statement above. JP morgan, WellFargo, CIti and BAC will use that money to buy more stock instead of lending it! We must have Bernanke fired!!!!!
Dane T

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#39
Sep 14, 2012
 

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Eleanor wrote:
All this will do with cause PRICES to RISE <inflation>
The stock market will artificially go up, due to inflation.
Home prices will artificially go up, due inflation.
Everything will appear to be hunky dory, except that gas at the pump will go higher, housing costs higher, food higher and those WITH JOBS will need to find ANOTHER job just to keep up with this MESS!!
If we make believe the economy is going to get better maybe we can make believe Obama might do a 180 a be a positive President if he is reupped. It's all just make believe.

Maybe Americans are no longer savey enough to make rational political choices. Maybe if things get bad enough Obama can have the distinction of being "The Last President" of the late, great USA.

“Obama Is Mentally Sick”

Since: Oct 11

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#40
Sep 15, 2012
 

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What a bunch of bs from this sack of vomits administration. It will take decades to correct what Obama has destroyed. He should be hung by a rope on the whitehouse lawn.

“Obama Is Mentally Sick”

Since: Oct 11

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#41
Sep 15, 2012
 
Run these fricking illegal mexicans out of the USA. And those who refuse to leave, blow their heads off.
Eleanor

Buffalo Grove, IL

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#43
Sep 17, 2012
 
Elle est salope wrote:
<quoted text>
I agree with the statement above. JP morgan, WellFargo, CIti and BAC will use that money to buy more stock instead of lending it! We must have Bernanke fired!!!!!
Romney is already on record stating that he will NOT re-appoint Bernanke.

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