Forum Post: Fed Balance Sheet Now Over 3 TRILLION...Oh the insanity....
Posted 11 years ago on Jan. 29, 2013, 5:37 a.m. EST by OTP
(-203)
from Tampa, FL
This content is user submitted and not an official statement
http://www.counterpunch.org/2013/01/22/the-feds-plan-b/
This is pure insanity. The entire economic system is functioning to take advantage of the people, not to help them. That makes no sense whatsoever.
The people just got done putting all the same people back in charge, the people who are suppose to legislate the mess. That makes no sense whatsoever.
Mindless consumerism is still rampant as holiday sales show. With the above mentioned two circumstances, that makes no sense whatsoever.
With all of this going on, and nothing radical and/or dramatic happening at any level whatsoever, whats next? Where does all of this lead the country to?
I support the articles contention that Obama should push a jobs program. Like his infrastructure jobs pgm, orhis green jobs pgm, the effort to save state jobs, or even the veterans jobs pgm. That is an excellent idea. I think if the politicians (republicans?) who blocked those efforts hadn't, then there would be no need for this inflationary gift from the Fed to the banks. The article also fails (but almost does) to make the connection that getting the housing market on track (still suffering after the great recession of 2007/8) WILL create jobs. Isn't the housing market one of our greatest job creating engine? And hasn't the slow mortgage lending/housing market been a major drag on the economy? And therefore stunted jobs growth? I think banks should be taken over and forced to lend for housing market rebirth. I do not support this Feds gifts to the banks. But I know getting the housing market going again WILL create jobs. Congress (republicans?) and treasury (democrats?) has blocked real help for homeowners/buyers directly, We'll see. Your article lays out the strategy of kickstarting housing but ignores the connection to job creation.
There isnt really too much housing can do until the glut of empty homes is taken up, and even then, people just dont have the money, and more importantly, the optimism to jump into a brand new mortgage.
Interest rates are going to have to go up eventually, and that will kill any momentum as well, imo.
Personally, I would like to see us rebuilding in the cities and stop this insane amount of suburban sprawl.
I agree the glut of housing inventory, as well as the lack of lending is a big reason why housing has been a drag on housing related jobs. My point is housing IS one of the best jobs engines in the country. Your article seems to indicate that the Fed is trying to end that drag. Is that what the Fed is doing? I don't support helping banksters at all. But if the Fed is trying to jumpstart the housing market and therefore housing jobs isn't that a good thing?
The problem is that keeping interest rates at artificially low rates means that they are centrally planning the market, not letting it function properly.
They are the ones that caused the bubble, and then popped it, so I would assume anything they do to try to "bring it back" is a scam too.
I certainly agree the Fed is simply an arm of the criminal banksters and I do not trust them. I'm even prepared to say they are engaged in some scam or another at all times. I cannot say I can understand it really. Low interest rates are certainly good for the 99%, but probably are being kept low to hold down govt interest on the debt as well as throwing low cost (free) money to the banksters they serve. Of course even though it benefits banksters I can't bring myself to push for high interest rates. High interest rates would hurt housing market and that jobs engine. I would support ending the sweetheart lending to banks, making the same lowcost loans to the 99%, and forcing banks to cut rates on all cr card/mtg/student loan debt.
What scam are you suggesting exactly? Do you think interests rates should be raised?
Interest rates should react according to the market forces. All these are doing is inflating commodities and pushing people out of the bond market and into the stock market in an attempt to keep up with inflation. Its why the Fed bought over 50% of all the bonds last year. No one wants them, the return is shit, and the people backing them are completely out of control. Better off giving your money to a drug dealer.
I Agree the Fed is a corrupt bankster controlled organization that has been serving (colluding) with banks against the 99% for 100 years I do think that conspiratorial model must end. Big Banks should be shut down, community banks should be supported. I do believe actually, that the US bonds are much preferred by the entire planet. However bad things are here, economies are worse everywhere else. but I agree theFed iscorrupt and must be abolished, along with big banksters.
It leads us to the shitter. That;s why they want our guns so badly and are running joint military and local law enforecement drills in Miami and Houston. How many BILLION rounds of hollow points did various .gov agencies buy last year?
Check this out, how weird is this?!1 http://www.worldcampus.psu.edu/homeland-security-ccn?cm_mmc=Homeland-Base+12-13-_-Google-_-Online:PaidSearch-_-homeland+security+(GOO41047)&gclid=COjU-Yi5jbUCFQHonAodc2wAMg
Scary. An internet degree in Homeland Security. I am glad I am on the backside of 50.
Our economic system will fail. Not immediately, but in time. The government will print more money and implement stop gap measures as we go along. But at some point the government and individuals won’t be able to pay the bills.
We can only speculate the outcome. Could be an American Spring scenario. Could be civil war. Could be a depression and a changing of the guard in politics and business. But whatever happens it’s probably unavoidable at this point.
It’s too late for politicians to fix things. And it’s not just the politicians, it’s the division of the people. Hate is rampant between the different political and social ideologies.
There are already people saying our problems can’t be solved peacefully. I personally think that fear is a big part of why people cling to their guns. I pray we at least find a way to get through this peacefully. Violence is the wrong answer.
Maybe that's why the vast majority of people who don't trust this government are out buying firearms to be prepared.
Sorry about the rest of those who aren't and don't want to own firearms, but they will just have to deal with the consequences when the SHTF.
Yeah - those poor unfortunates won't be having a drone missile shot up their ass - Hey?
Hey, according to reports today on the liberal news media the economy is doing just fine and businesses are floursihing.
But there is one catch - the GDP reported today was at an all time low since 2009 - this past month was at 0.5%.
Of course the news media and government said not to worry - the reason for this was because "government spending was down" and "military spending was down".
So, I guess it's not the businesses of this country who are the ones that contribute to the GDP - apparently it's the government.
So get over it - Obama was voted in and for those of you who voted for him deal with the consequences of your actions.
After all for those of you who are part of the Y and melinimum generation you will be the ones who own this debt anyway.
Maybe in 10 or 15 years you might be in charge and then you can do with the government what you want.
Hey shit head - you are listening to MSM? Who's economy is doing just fine? Those who are getting monthly multi-billion billion dollar public money subsidies as well as those outsourceing work to foreign sweatshops?
According to the "liberal news media" that's who and Obama is backing them up.
Sheesh - shit for brains - that is exactly why money needs to be booted out of government - but it is funny - really hilarious - that you would pile all of the fault on obummer - rather then include such assholes like = Bitch McConnel and Boner and Can'tor and Bachman and Reed and and and and. Shit - and this you can NOT deny - it was the RINO's/CorpoRATist's in office this last term that put up the most roadblocks to any sort of recovery. Are you gonna start singing the praises of Koch Halliburton CATO ALEC and Heritage now?