Feds Quietly pumps One Trillion dollars into system »
Posted By RedRiverJ 8 months, 3 weeks ago in NewsWhile everyone — including me — was taking sides on the AIG bonuses, something much more important was happening: The Fed announced it will pump a $1 trillion into the system by buying debt from our treasury.
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RedRiverJ8 months, 3 weeks ago
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The AIG bonus ordeal kinda kept everyone's attention, while the FEDS quietly pumped in a mere one TRILLION BUCKS into the system.
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No biggie for the "Not Me" administration, even if this underhanded move causes out of control inflation and makes the dollar worth a dime.
With Obama on Leno, pondering basketball games, the AIG problems, no one would notice the FED printing up a trillion and pumping it into the system.
Maybe with the next NOT ME administration problem the American people will make sure not only to keep an eye on the right hand but make sure we know what the left hand is doing, because with this trillion floating about it seems all the bruhaha over AIG was a diversionary tactic.-
capecoralMComment removed: Retracted by user
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capecoralMComment removed: Retracted by user3 Replies
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GehlLady8 months, 3 weeks ago
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I had to watch Obamas Leno appearance, hoping to see something that would give me a reason to feel he's got some kind of plan that will get us on the road to better economic times. I didn't, nothing I heard sounded like a plan at all, good or bad. That tells me if there is a plan, it's not good.
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RedRiverJ8 months, 3 weeks ago
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It's not good is my feeling as well. 3rd world country is another very uncomfortable feeling I get too because there is no plan, or no intent of a plan other than to let us slide more left with each passing day until one day we can no longer call Canada, England socialist!
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Pecossam8 months, 3 weeks ago
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Stalemate,
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In Obama's mind, in some sick way, bringing the U.S. down to the third world level is EXACTLY what he's aiming for. Remember, this man was tutored by none other than Bill Ayers, who if not for the bungling of the powers that be concerning the evidence against him, would either be dead via the death penalty or else serving life without parole in a cozy prison cell. Bringing America down to her knees was what the Weathermen Underground was all about. The MSM down-played the Obama/Ayers connection to our detriment, and we are now just beginning to pay the price of our "Fourth Estate" not doing its job when covering elections.
People of Ayers ilk, and the "students" he has "tutored", live for the day when we too live in cardboard shacks; their warped idea of "Economic Justice" brought to fruition. There is no way they can ever admit America is successful due to its Capitalist Culture". Remember, Ayers & Co. BELIEVE and teach that "All Cultures Are Equal", and therefore it must be America's GREED that is the reason and the failed systems and/or countries are America's fault. Ayers & Co. will NEVER -
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truthiness8 months, 3 weeks ago
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Gresham's Law: Bad money drives out good.
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first historical example: The introduction of copper coins by the Athenians caused people to horde the silver coins and only use the cheaper copper.
The Romans, in order to fund their empire, cut holes into their coins so that they would have more metal to make more coins from. Thus devaluing the coin both by removing the quantity of metal and by putting more coins in circulation which makes each one less rare.
Ironically, Alan Greenspan, Federal Reserve Chairman from 1987 to 2006, was an early critic of fiat money arguing in his essay, Gold and Economic Freedom, that,
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. [14](this last from wikipedia) -
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Pecossam8 months, 3 weeks ago
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(PROPELLER BURPED AGAIN --- I'll continue)
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....Ayers & Co. will Never advise their socialist/communist com rads in failed third world countries to change their ways, be it their culture or other economic system,traditions, or beliefs that hold them back. No, for to do that would be to admit that ALL CULTURES ARE NOT EQUAL, which is HERESY to Ayers & Co., Especially one now known as President OBAMA.
May GOD help our Nation.-
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nostalgia8 months, 3 weeks ago
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All of this is straight out of Saul Alinsky's Rules for Radicals
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Look at some of his "rules"
RULE 2: "Never go outside the expertise of your people." It results in confusion, fear and retreat. Feeling secure adds to the backbone of anyone. (Organizations under attack wonder why radicals don't address the "real" issues. This is why. They avoid things with which they have no knowledge.)
RULE 3: "Whenever possible, go outside the expertise of the enemy." Look for ways to increase insecurity, anxiety and uncertainty. (This happens all the time. Watch how many organizations under attack are blind-sided by seemingly irrelevant arguments that they are then forced to address.)
RULE 5: "Ridicule is man's most potent weapon."
RULE 10: "If you push a negative hard enough, it will push through and become a positive."
RULE 12: Pick the target, freeze it, personalize it, and polarize it."
There is interesting commentary with the rules listed on this site:
http://www.geocities.com/WallStreet/8925/alinsky.h...
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truthiness8 months, 3 weeks ago
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I watched Obama on Leno about an hour ago online. I am surprised to see you write that he offered no plans good or bad, Gehlady.
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I took away from that a plan to observe the banks the govt is invested in based on their business indicators and when they are healthy again, make them independent. This was the conversation about "running a diagnostic"
He also spoke about investing in the development of alternative technologies which already exist, so that oil would be the alternative and these concepts would be primary. He named a few examples that he knew were already working. This doesn't mean the govt will run the industry. NASA is a govt funded program that subcontracts private industry and, as a result, has spun off numerous private enterprises, e.g. velcro, microwaves, satellite tv.
He also made it clear that his long term plan for taxes was to have a tiered structure where the wealthy pay slightly more than than the middle class. Which is fair.
He also spent some time explaining the what happened with AIG and the banks and congress, which, I'm sorry, is not a 'story of the day'. Ashley someone's dog is stuck in tree, that's the story of the day... a financial institution making financial obligations it couldn't fulfill to such a degree that it cascaded into crushing our economy.. and then they took bonuses... is not the story of the day. That's some serious sht. I know your not used to leader who speaks to you about stuff that's happening to you.. but its a good thing, really.-
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GehlLady8 months, 3 weeks ago
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truthi,
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We heard the same thing, we just got different things from it. I heard long term goals, and some of the same things he's been saying since the campaign. I suppose I wanted more detailed information than would have been appropriate in the late night talk show venue. I hoped to hear he was fleshing out the Treasury positions, a kernel or two that we haven't heard, over and over, already. A little more of the 'how' instead of generalities. Again, probably not happening on Leno.
I agree, AIG is not the 'story of the day' kinda thing. It is serious.
"I know your not used to leader who speaks to you about stuff that's happening to you.. but its a good thing, really."
I was not a Bush fan, but I was working too hard to pay attention back then, didn't have all this time on my hands like I do now. I may be late to the party, but I'm paying attention now............
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tadair9198 months, 3 weeks ago
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truthiness8 months, 3 weeks ago
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the question should be
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If I took sold you fire insurance on your house and then let others buy fire insurance on your house, so many other in fact that when your house burned down, there was not enough money to pay anyone including you. As a result, now none has fire insurance.
cuz that is what AIG did to the financial markets through the sale of a hedge fund on their own loan insurance. now the federal govt has to either bail out the system, or let the entire financial system fail.
I fully believe we need to find a different way of running the markets and the country than anything wither party is currently offering.... but you can't fix the levee until after you have dealt with the flood.
to blame Obama for running a Keyensian approach to solving our problem when Keynes worked from FDR to Nixon.. is ludicrous. To suggest that he is trying to turn the nation into a third world nation is just tin-foil hat crazy, and completely oblivious to the facts at hand.
there is a point of too much money being spent and recking the economy... too much medicine can poison a patient... but if you think laissez faire policies will get us out of this then you have no comprehension of the problem and you clearly don't care about the amount of human suffering that would result from such and approach even if it were successful.
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stephen-johnson8 months, 3 weeks ago
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http://www.nypost.com/seven/03202009/news/columnis...
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"In a short period of time, Obama has retreated from a whole host of the very clear promises in his campaign that drew in even Republicans weary of the corruption and criminal waste of Washington.
Vowing to change how this place works, he would wrest control of DC from the greedy hands of lobbyists and put an end to politicians paying off benefactors with plum pots of federal tax money.
But today, two months to the day since he became president, Obama has hired countless lobbyists, surrendered his ban on pork, and made a mockery of responsibility.
Indeed, every year during March Madness, there's a Cinderella story a team that defies the odds.
Sadly, this year's Cinderella story is not a Texas Tech or a George Mason but the Obama administration.
It's turning into a pumpkin right before our very eyes."-
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nostalgia8 months, 3 weeks ago
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They have finally found someone willing to take a job at Treasury:
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Citi chief economist quits; to join US Treasury: report
New York: Citigroup chief economist Lewis Alexander is leaving the troubled financial services entity to join the US Treasury Department, says a media report.
The Wall Street Journal quoted an internal Citigroup memo saying that Alexander would leave his job in Citi to work on domestic financial issues at the Treasury, which is facing staff shortage.
http://www.livemint.com/2009/03/18150146/Citi-chie...
How convenient - letting the wolf guard the hen house?
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Commodore18 months, 3 weeks ago
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Well I've heard two versions of it. I heard from that FOX News Business woman that it would make credit available to the banks and someone else has said it's a last ditch desperate attempt to save the economy. And if it fails then we'll have massive inflation. I guess we'll have to wait and see.
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