Forum Post: Criminal Lies, Criminal Neglect, QE3 program to keep Interest Rates Low Hurts Main Street and Prevents Job Growth
Posted 12 years ago on Nov. 10, 2012, 4:51 a.m. EST by Middleaged
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Criminal Lies, Criminal Neglect, QE3 program to keep Interest Rates Low Hurts Main Street and Prevents Job Growth. It is an Early Form of Austerity perpetrated on the American people.
You tell me if it is Malicious Lies, Criminal Stupidity of the Federal Reserve Board, negligence, or some sick Joke the Bankers are all in on....
Story Orignates from for Central banker, William F. Ford – former president of the Federal Reserve Bank of Atlanta. And is supported by Dallas Federal Reserve Bank president Richard Fisher.
The Fed Is Expected to Launch QE3 Next Week … Which Would Help the Rich and Hurt the Little Guy
Posted on September 8, 2012 by WashingtonsBlog
http://www.washingtonsblog.com/2012/09/the-fed-is-expected-to-launch-qe3-next-week.html
Mr. Ford Conducted a Study or Reported with table of his findings that our Economy has missed some big opportunity because of Quanititative Easing which keeps the interest Rate very low. The finding is that Higher Interest Rates increase spending in the Economy and this Translates into jobs for Americans.
"...The projected annual impact of this loss of interest income on just $9.9 trillion of rate-sensitive assets translates into $256 billion of lost consumption, a 1.75 percent loss of GDP, and about 2.4 million fewer jobs..."
See link for Table of data.
Perhaps this should be an OWS Alert This is like the Great Depression. Bankers and Economist are paid to know better than this prolonged period of Subsidy to Wall Street banks.
I've been complaining about this for 6 Months or so. We need 4-5% Interest Rates on Individual Savings Accounts to keep up with Inflation, to encourage good citizen behavior, to educate young future Voters, and to recognize that we are Individuals with Rights and we are the ones Building this country.
We have had low Interst rates for 4 Years, but really the first Round of lower interest Rates was after the Doc Com Crash in 2000, 12 years ago
The only thing happening in QE3 is a Subsidy to Wall Street Bankers and Austerity on the American People.
Also Supporting this Article is Simon Rose of SaveOurSavers.co.uk
http://www.guardian.co.uk/business/2011/aug/14/quantitative-easing-riots
http://www.bankofengland.co.uk/publications/Pages/news/2012/073.aspx
http://www.zerohedge.com/contributed/2012-17-29/does-quantitative-easing-benefit-99-or-1
http://www.washingtonsblog.com/2010/10/bernanke-knew-back-in-1988-that.html
Price increase (inflation) is what is killing the economy, which is driven by QE in the form of monetary devaluation. Not interest rates or some other insignificant bullshit. People can't afford to buy, stores lose money. Wall Street nor retailers are ever going to admit they charge too much because that is what they always do, it's just that now we are broke and so high prices are cannibalizing whats left of our weak economy.
on the nose
Yes, lucky for US that the Euro is deflating as well. And yes I think the focus you have on this issue. I noticed that you have posted more on Economic issues that others. Capitalism is about targeting where the money is, ...like consumers ...like new Mortgages ... or like owning a bank ... and then looting to get as much Salary, bonuses, or sales transactions as you can.
There is a cultural problem here. Like we have a shadow side we refuse to Look at. Capitalism is not just all good. Not just benign. And the MSM and Politicans only look at the good parts, extolling the virtues. If we have this big shadow we refuse to talk about ...then the Fraud and Crimes continue.
So maybe the problem with the USA is Psychological. We are deceiving ourselves. We are living in Denial of the problems, and refusing to aknowledge the Corruption and Financial Schemes.
Until everyone can talk about the Emperor having no Clothes and that Capitalism and Money and Bankers have these glaring Flaws - This Shadow Side ...THEN the Beatings Will Continue.
But inflation is just 2-3%,
What are talkin about? What prices have gone up besides the evil plutocrat gauging fossil fuel corp products.
Housing is way down. Groceries ain't jumping in price. Prices in your part of the country? Where?
You attempt to omit a factor that has much to do with hidden inflation. The cost of fuel is passed onto the consumer. So if fuel prices rise, so do the prices of all tangible products. You cannot challenge the facts and insist that part of the equation be omitted in order to make you right. Spin much. Food prices are up, housing is up and being bragged about in the media, import prices are up which means clothing and tech is up. If you want to live in wonder land and ignore reality thats fine but don't think I won't call you out on it.
http://www.counterpunch.org/2012/10/08/the-hidden-metrics-of-shadow-inflation/
http://investorplace.com/2012/06/is-hidden-inflation-choking-the-recovery/
Your investorplace link is pretty much an advertisement to buy stocks & vanguard products. no real evidence regarding inflation. It states that inflation is about 3- 4%.(very low historically) and goes on to opine that they disagree with the method it is calculated. Well that is the way it's has been calculated when inflation was high so we might agree it ain't the best method but inflation isstill low by the measurewe'vealways used.
They complain about stagnant wages. No shit. That ain't a new phenomenon. Been that way for almost 40 years. During high inflation times and low (like now).
They mention product size. Wow what a reach. Corps have been doing that forever.
None of this relates to the fed policy.
You have not proven there is hidden inflation. You did corroborate the low inflation that I mentioned.
Perhaps all we have to do is cut working class taxes and pressure corps to raise pay (cut exec compensation).
Whatta ya think ya with me?
So the article quoting conspiracy nut Welch included NO proof of inflation. Only billionaire Welches opinion that middleclass people believe inflation is higher than the CPI reports, & Welches opinion that the CPI is not accurate.
It should be noted that this is the right wing wacko who also pushed the conspiratorial fallacy that the unemployment number was tampered with because it wasn't to republicans liking. So we can discard his rantings out of hand as partisan non sense.
Let's see about your other link.
PC's are much cheaper than in years past so tech is not up.
Housing is clearly down if you have any knowledge of the last 4 years of the housing crash. There has been news of increased housing prices but most areas are still lower than they were 5 years ago.
Oil is up but that ain't fed action that is criminal corp 1% plutocrat fossil fuel corps.
Food prices are up some. Some Argi up a good bit but other than those weather related issues food prices are not jumping like you suggest.
I mean they're up just not exorbitantly. But you did say hidden so I guess that's what you mean. We don't see it.
Do you think gas prices are gonna drop now that the fossil fuel corps failed to defeat there election of pro greentech Pres Obama.?