Share on Google Plus Share on Twitter Share on Facebook 4 Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend 1 (5 Shares)  
Printer Friendly Page Save As Favorite View Favorites View Article Stats   2 comments

OpEdNews Op Eds

Money Printing Madness

By (about the author)     Permalink       (Page 2 of 4 pages)
Related Topic(s): ; ; ; ; , Add Tags Add to My Group(s)

Well Said 2   Must Read 1   Funny 1  
View Ratings | Rate It

opednews.com Headlined to H2 9/17/12

Become a Fan
  (191 fans)

"Secondly".they have been saying for the last 15 years that bailing out LTCM was necessary. Then they saw the NASDAQ collapse after March of 2000. We need to create another bubble. Print money. They created a gigantic credit bubble and the misery that we have today".Thank you, Mr. Bernanke."

Include his Maestro of Misery predecessor. His legacy reflects torment and devastation for millions. Bernanke matched his worst and exceeded him. 

They're two of the most duplicitous scoundrels ever to serve in Washington. They're financial weapons of mass destruction. They engineered harder times than most people thought possible.

According to John Williams :

"Consumers simply cannot make ends meet. Inflation-adjusted, or real, median household income declined for the fourth-straight year, plunging to its lowest level since 1995." 

"Deflated by the CPI-U, the 2011 reading actually stood below levels seen in the late-1960s and early-1970s."

"At the same time, despite the ongoing nature of the economic and systemic-solvency crises, and the effects of the 2008 financial panic, income dispersion - the movement of income away from the middle towards both high - and low-level extremes - has hit a record high, instead of moderating, as might be expected during periods of financial distress." 

"Extremes in income dispersion usually foreshadow financial-market and economic calamities. With the current circumstance at a record extreme, and well above levels estimated to have prevailed before the 1929 stock-market crash and the Great Depression, increasingly difficult times are likely for the next several years."

Economist Paul Craig Roberts said people are being "re-enserfed. The promised land" benefits only the top 1%. Globalized poverty, unemployment, and human misery grow more institutionalized.

Monetary madness combined with austerity when stimulus is needed assures much worse ahead. Progressive Radio New Hour regular Jack Rasmus tells listeners what happened and warns about about what to expect.

He calls QE 3 an open-ended money grab. It's near-free money for bankers and investors at the expense of the real economy and millions growing poorer.

Claiming it's done to create jobs, help the depressed housing market, and boost economic growth is cover for grand theft.

Over 23 million Americans remain unemployed. Economic conditions are weakening. Nearly all indicators show housing "bump(ing) along the bottom." QE 3 will do nothing to change things.

It's "subsidizing banks and investors." It's boosting financial, commodity, and other asset class valuations. At the same time, it's hanging ordinary people out to dry. It provides no help whatever. It's transferring wealth to super-rich elites already with too much.

Next Page  1  |  2  |  3  |  4

 

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles
Related Topic(s): ; ; ; ; , Add Tags

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert

Comments

The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
2 people are discussing this page, with 2 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

You possibly had engaged in?    To say... by BFalcon on Monday, Sep 17, 2012 at 6:49:38 AM
The money for QE3 is being created out of thin a... by Lance Ciepiela on Tuesday, Sep 18, 2012 at 8:56:59 AM