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Forum Post: Wall Street Welfare: QE3 - Where you at GOP ?

Posted 2 years ago on Aug. 31, 2012, 10:25 p.m. EST by richardkentgates (3269) from Fort Walton Beach, FL
This content is user submitted and not an official statement


More debt is ok if it goes to Wall Street?

It amazes me that this continues while Obama promises middle out economics. Every round of QE and printing from Operation Twists has been gobbled up by the banks to keep prices artificially high in the face of low demand. What is even more astonishing is that these hundreds of billions of dollars are being added to the national debt, and the GOP is mum about the entire thing. So is the MSM. Make no mistake, the money the FED prints under these programs are not going to rebuild roads or assist people with upside down mortgages.

Maybe none of them say anything because deep down even when they say "we should be rebuilding the middle class" what they really mean is "look over here while we finish draining you and the entire global economy".

Now, with no commercial interruption, this news...


News

Stocks rise on Bernanke endorsement of renewed stimulus

NEW YORK — Ben Bernanke’s much-awaited endorsement of more Federal Reserve stimulus Friday gave stocks a solid boost, though tempered by his picture of an economy that remains weak and vulnerable.

The Dow Jones Industrial Average added 90.13 points (0.69 percent), closing at 13,090.84.

The broad-based S&P 500 rose 7.10 (0.51 percent) to 1,406.58, while the tech-rich Nasdaq climbed 18.25 (0.60 percent) to 3,066.96.

In his speech at a central bankers summit in Jackson Hole, Wyoming, Fed Chairman Bernanke warned that stagnation in the US labor market was “a grave concern” and signaled he would be pushing for more help for the sluggish economy when the Fed’s policy board meets in 12 days.

“Chairman Bernanke’s comments should be taken positively as he indicated a willingness to increase support to the economy,” said Michael James, an analyst at Wedbush Morgan Securities.

James said that a third round of Fed quantitative easing, dubbed QE3, was “more likely than unlikely, based on my reading of his commentary today, and that will continue to be positive for market sentiment next week.”

Source


My final comments

US labor market was “a grave concern” and signaled he would be pushing for more help for the sluggish economy when the Fed’s policy board meets in 12 days.

This is trickle down. What is being said here is that to deal with unemployment, they are going to print more money and hand it over to the banks. They have already done this with installments from Operation Twist and QE1 & QE2 to the tune of a few trillion dollars just in the past few years. Has it created jobs? What was unemployment 3 years ago, where is it now? Yes, Obama saved the auto industry but that one industry is no more the entire economy than is Wall Street. Obama needs to get of the campaign trial and do his job instead of outsourcing it to the FED. I would vote for that.


19 Comments

19 Comments


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[-] 2 points by jrhirsch (4714) from Sun City, CA 2 years ago

QE = Quantitative Easing = Double Speak = Theft

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Exactly

[-] 2 points by shadz66 (19985) 2 years ago

"Quantitative Easing" = Queasing !!! A whole lorra belly ache !! LOL !

Damn good post, btw :-)

in vino veritas ...

[-] 2 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Thx man.

[-] 1 points by shadz66 (19985) 2 years ago

Ditto dude ;-)

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

The media and politicians ignores this because this is the thread the unites the Tea Party over government debt, and Occupy over using that debt to feed Wall Street.

[-] 1 points by FunstonSlabbers (6) from Brunswick, OH 2 years ago

The Fed is past time to be dismantled.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Or at least take the check book away from the kids, I mean FED.

[-] 1 points by FunstonSlabbers (6) from Brunswick, OH 2 years ago

I'm okay with that.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

So damn tired of this being ignored. I just challenged Rush's stance as a fiscal conservative on twitter over ignoring QE3.

[-] 1 points by DKAtoday (28250) from Coon Rapids, MN 2 years ago

OH - HELL - Richard - No one cares anything about anything - unless it has to do with wallstreet being given oodles of money - just for being there.

Cmon get with the program already.

aAAAHHHHaaa....... I just had a night mare.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Thats what QE is. I thought we were protesting the 1% getting all our money. Am I wrong? Are we ok with the FED giving Wall Street a few hundred billion dollars that we will have to pay back and that will not go to the economy but rather the pockets of executives? Are we ok with that now?

[-] 2 points by DKAtoday (28250) from Coon Rapids, MN 2 years ago

scuse....I just had a night mare where I thought I was defending the black hole of Calcutta...I mean wallstreet...quite awful....woke up screaming feeling so soiled...well I can tell you I do not want another of those experiences.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Me either.

[-] 1 points by DKAtoday (28250) from Coon Rapids, MN 2 years ago

That is why - I guess that we have got to keep busy - and look at all of the ways that we as individuals can make a difference - effect a change.

Damn - why could OWS and all Occupy movements not have been born like 20 years ago. Why couldn't OWS and Occupy have been born in the 60's and just kept growing - what a different world we would have today/

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

Good question.

[-] 2 points by hchc (3297) from Tampa, FL 2 years ago

Pockets less full...

[-] 1 points by gnomunny (6638) from St Louis, MO 2 years ago

And less empty.

[-] 1 points by richardkentgates (3269) from Fort Walton Beach, FL 2 years ago

lol. That is probably it.