That would be fine if it was money going to the consumer. Those with short tern debt would be forced to pay off the debt with that money. Those who were responsible, just got to keep the money, spend it and put it back into the real economy, whatever they like.
Handing it to the banksters (note former brokers that became banker so they could receive the free money and zero interest money ) and large corporations to spend it inefficiently, or at high non-competitive bids on "shovel ready" project. Well....that is just thievery AND stupidity AND an act of desperation, hoping that somehow a magic solution appears as they kick the can further down the road.
No one wants to "suck up" a difficult solution if there is even a 5% chance that something else might work.
Steveo
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RBA - Royal Bank Australia did a surprise rate hike that jolted the AUD /USD past a ratio of 1 or parity. Although even numbers are often psychologically "sticky" with humans, the big hype about "parity" and the significance of this buzzword, is technically not important. However, rate hikes are "news that matters" as is QE2 -- always the question though---what is already baked in the cake?
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RBA - Royal Bank Australia did a surprise rate hike that jolted the AUD /USD past a ratio of 1 or parity. Although even numbers are often psychologically "sticky" with humans, the big hype about "parity" and the significance of this buzzword, is technically not important. However, rate hikes are "news that matters" as is QE2 -- always the question though---what is already baked in the cake?
I'm of the optimistic mind that at this point, nothing would actually work. that ship has sailed, and we weren't on it. now, it's just a matter of how fast and how deep...and then, how bad inflation gets.
ReplyDeletebut first things first. one disaster at a time! lol
Change we can believe in! Like your $100 being worth pocket change......thanks for posting and keeping it live in here.
ReplyDeleteThe problem is that who will question them? It's like the lion in a jungle. I mean, every other animal is fedup of the lion, but nobody can or do question the mighty lion.
ReplyDeleteUnfortunately, that's the plight of a common man. He just lives paying more and more for the same commodity so that the proceeds can be donated on a silver/gold plate to the banksters in billions of bonuses.
Nice avatar! "Fedup" no pun intended!
ReplyDeleteThe elections were interesting.
More of the same in Hawaii, though. In general, new blood and new ideas were voted out, and big money old school corruption with decades of record of non-performance were voted in.
:-)
ReplyDeleteThe problem is the deadlock. With one party controlling the house and the other the senate, rest assured nothing will pass in the next couple years. Which means it is the FED again doing what they want to do for a whole 2 years without any control, like a mad man escaped from a mental institution. :-)
Mmmaybe not.
ReplyDeletehttp://www.slate.com/blogs/blogs/weigel/archive/2010/11/03/ron-paul-to-chair-monetary-policy-subcommittee.aspx
Ron Paul with actual power? Maybe hes too old and they won't even try to set him up with a hooker like Spitzer.
ReplyDelete