The Feds' reasoning only works on the ignorant and financially illiterate. People who do not live their lives in debt will not be rushing out to get new and cheaper debt so that they can go on a wild Vegas spending spree. People who invest instead of buying consumer goods are not going to change that behavior just to save president downgrade. I personally will only be spending money on necessities until unemployment is at 5% and savings interest is at 4%. So good luck with getting the irresponsible to lead us out of economic collapse Bernacke.
With yesterday's Fed decision and press conference, Chairman Ben Bernanke finally and decisively laid his cards on the table. And confirming what I have been saying for many years, all he was holding was more of the same snake oil and bluster. Going further than he has ever gone before, he made it clear that he will be permanently binding the American economy to a losing strategy. As a result, September 13, 2012 may one day be regarded as the day America finally threw in the economic towel.
Here is the outline of the Fed's plan: buy hundreds of billions of home mortgages annually in order...
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