Ace of Spades HQ

September 13, 2012

Federal Reserve Announces Open Ended QE III
— DrewM

Interest rates will stay in current range through 2015 and the Fed will be buying $40 Billion worth of mortgage backed bonds per month...until morale improves.

This is what makesthe biggest difference: the Fed isn't announcing a limited amount of purchases. It's an open-ended program to buy bonds until the economy improves. From the statement: "If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability."

Fed Chairman Ben Bernanke used to be jokingly called "Helicopter Ben". He's certainly living up to that name, though it should be updated to "Drone Ben".

As always my question is, if running up tremendous public debt and inflating the currency is the key to prosperity, why isn't Zimbabwe considered the most prosperous nation on Earth?

James Pethokoukis reacts.

What Romney should say: Is this Obama's "New Foundation" economy? Built on trillion dollar deficits and cheap money?

We are so screwed.

Posted by: DrewM at 08:46 AM | Comments (211)
Post contains 194 words, total size 2 kb.

1 So what does this produce? Inflation? Depressed interest rates? How am I boned this time?

Posted by: Y-not at September 13, 2012 08:48 AM (5H6zj)

2 Wow. Even with a spike in inflation todays report.

Posted by: Dirks Strewn at September 13, 2012 08:48 AM (zuH2X)

3 Seen on Twitter: The new QE3 is bigger and with retina display. (from Zero Hedge, iirc)

Posted by: Y-not at September 13, 2012 08:49 AM (5H6zj)

Seriously, Ben Bernanke is sick in the head. Ron Paul is right-abolish the Federal Reserve (and I can't stand Ron Paul).

Posted by: ejo at September 13, 2012 08:49 AM (19jG4)

5 I was thinking it was more "double-ended". But whatever.

Posted by: Andy at September 13, 2012 08:49 AM (5Rurq)

6 Holy shit. They're not even pretending anymore.

Holy shit.

Posted by: Tex Lovera at September 13, 2012 08:50 AM (wtvvX)

If you like your recession you can keep your recession!

Posted by: Barakhenaten I at September 13, 2012 08:50 AM (6uCLh)

8 The Weimar Plan: worked the first time.

Posted by: Beagle at September 13, 2012 08:50 AM (sOtz/)

9 Your gonna love my nuts!

Posted by: Barakhenaten I at September 13, 2012 08:50 AM (6uCLh)

10 Oh, it's open-ended. And we are the open end.

Posted by: Tex Lovera at September 13, 2012 08:50 AM (wtvvX)

11 I'm opening a wheelbarrow store!

Posted by: Tami at September 13, 2012 08:51 AM (X6akg)

>>>So what does this produce? Inflation? Depressed interest rates? How am I boned this time?

You will never see a CD or money market rate above 1% for the next 3 years. Also your money will be losing value faster than you could ever earn interest on it anyway.

Posted by: Ben at September 13, 2012 08:51 AM (C2Y4l)

13 But, but must get Obama re-elected... Must save my job... Bernanke..

Posted by: the pink not panicking about one poll formerly known as the hobbit Donna at September 13, 2012 08:51 AM (W2Z3C)

14 The US economy will be sodomized before it's killed.

Posted by: t-bird at September 13, 2012 08:51 AM (b1g/X)

15 Go out, drive around town, look around at the people. Do you think any of them have any idea what's going on?

Posted by: Lady in Black at September 13, 2012 08:51 AM (lTVJy)

16 Ace swore off whacking it. It's only fair if Bernanke swears off, too, yet here he is beating it like it owed us money.

Posted by: WalrusRex at September 13, 2012 08:51 AM (XUKZU)

17 14 The US economy will be sodomized before it's killed. Posted by: t-bird at September 13, 2012 12:51 PM (b1g/X) Barney Frank has been ribbed for our pleasure...

Posted by: J.J. Sefton at September 13, 2012 08:52 AM (+tqYo)

18 Extremely scared of the next 4 years

Posted by: AuthorLMendez, Head Of The Projection Desk at September 13, 2012 08:52 AM (yAor6)

19 Just like General Motors, just like the European Union, we're propping up an unsustainable system. Collapse is imminent.

Posted by: Soothsayer at September 13, 2012 08:52 AM (jUytm)

20 The key to good economic policy is that it needs to relieve a binding constraint on economic growth. Buying bonds in order to lower interest rates does not relieve any binding constraints as interest rates are already at historic lows. Buying bonds to inject liquidity into the banking system does not relieve any binding constraints as there is already trillions of dollars of excess liquidity in the banking system. The binding constraint on the economy is the federal government itself... regulation, uncertainty, demagoguery, agitating for higher-taxes etc. All of this suffocates the animal-spirits of entrepreneurs, investors, and risk takers. The idea that you can fiddle with nominal measures like money supply and currency value to achieve real economic benefit is a joke. A bit of a stock market sugar high and then back to a sputtering economy. This kind of undermines the Clinton notion that you are about to feel the recovery too doesn't it?

Posted by: scofflawx at September 13, 2012 08:52 AM (N1Rjx)

21 Okay, aside from helping Obama what does this do?Sorry I'm an economy dunce...

Posted by: the pink not panicking about one poll formerly known as the hobbit Donna at September 13, 2012 08:53 AM (W2Z3C)

22 I'm not criticizing Ace for style, but it would be cool if the flaming skull had a jaw full of $50 bills for the 'we burn your money like paper' posts. There's gonna be a lot more of them as O'Blago tries to buy the vote of every man, women, child, and corpseman in the USA and surrounding areas.

Posted by: Sort-of-Mad Max at September 13, 2012 08:53 AM (VMcoS)

23 What would be Spanish for "The day of the flaming skulls".

Posted by: YIKES! at September 13, 2012 08:53 AM (7NP4t)

24 Wow, now that is some balls for the regime. And you thought Glenn Beck was a crack pot? This is like some Quinton Tarantino Movie! I mean this is the express elevator to DOOM.
The last bit of cover on the drain of demise...is removed.

Posted by: Clemenza at September 13, 2012 08:53 AM (Q8Pu5)

25

My God! The Dukes are going to corner the entire frozen orange juice market!

Posted by: Laurie David's Cervix at September 13, 2012 08:53 AM (kdS6q)

26 Mortgage backed securities? Well that's a relief. We all know how safe those are.

Posted by: Hollowpoint at September 13, 2012 08:53 AM (SY2Kh)

27 @15 nope. the idiots might actually keep this clown in power.

Posted by: AuthorLMendez, Head Of The Projection Desk at September 13, 2012 08:53 AM (yAor6)

28 Yeah Helicopter Ben just became Space Shuttle Ben...

I think our economy is over now.

Posted by: Sven10077@svenJolafson at September 13, 2012 08:54 AM (LRFds)

29 So what does this produce? Inflation? Depressed interest rates? How am I boned this time? Posted by: Y-not

Inflation will only accelerate once banks start lending again. No one is willing to take on risk now so the money just sits in reserves and is used to ramp up the stock markets.

Depressed interest rates? Japan says," はい！"

Posted by: weft cut-loop [/i] [/b] at September 13, 2012 08:54 AM (NRwWP)

You like your deflated home values you can keep your deflated home values.

Posted by: Barakhenaten I at September 13, 2012 08:54 AM (6uCLh)

31 Federal Reserve Announces Open Ended QE III I Question The Timing

Posted by: t-bird at September 13, 2012 08:54 AM (b1g/X)

32 I'm off to lunch. Maybe I can catch some $100 bills floating in the air on my way out.

Posted by: EC at September 13, 2012 08:54 AM (GQ8sn)

33 It's not going to work. PERIOD.

Look at the correlation with energy prices.

Posted by: Exile at September 13, 2012 08:54 AM (GGCsk)

34 Rich Lowry criticizing Romney again

Posted by: Truman North from the desktop PC at September 13, 2012 08:55 AM (I2LwF)

35 Wasn't the private sector doing fine, just minutes ago?

Posted by: t-bird at September 13, 2012 08:55 AM (b1g/X)

36 So, the high frequency traders with their near super-computer speed trading will continue to reciprocally trade tens of thousands of shares with each other hundreds of times per second so the DOW will stay above 10k while no value ever actually was exchanged.

Posted by: RoyalOil at September 13, 2012 08:55 AM (imtbm)

37
What would be Spanish for "The day of the flaming skulls"
Posted by: YIKES!

El DÃƒÂa de Los CrÃƒÂ¡neos de Fuego, according to google translate....

Posted by: Laurie David's Cervix at September 13, 2012 08:55 AM (kdS6q)

38 35 Rich Lowry criticizing Romney again

Damn would they just all shut up!

Posted by: the pink not panicking about one poll formerly known as the hobbit Donna at September 13, 2012 08:55 AM (W2Z3C)

39 @35 what's new? maybe he can continue his shots at our Senate candidate in CT while he's at it.

Posted by: AuthorLMendez, Head Of The Projection Desk at September 13, 2012 08:56 AM (yAor6)

Oh and everyone under 30, myself included, we're fucked.

Posted by: Ben at September 13, 2012 08:56 AM (C2Y4l)

why isn't Zimbabwe considered the most prosperous nation on Earth?

---

Racism, plus it's Romney's fault.

Posted by: WalrusRex at September 13, 2012 08:56 AM (XUKZU)

42 Gun and ammo sales to skyrocket even higher.

Posted by: CDR M at September 13, 2012 08:56 AM (dKV5k)

43 @41 did you have to remind me?

Posted by: AuthorLMendez, Head Of The Projection Desk at September 13, 2012 08:57 AM (yAor6)

44 QEIII: Because who doesn't want to see $5.00 a gallon gas prices?

Posted by: Hollowpoint at September 13, 2012 08:57 AM (SY2Kh)

45 O/T
What the fuck is with these stories of the ambassador being sodomized before being murdered?

Posted by: Does this leg smell gammy? at September 13, 2012 08:57 AM (vndQB)

46 Maybe they know the JEF won't reelection and they want to trash everything by the time R and R take office.

Posted by: Infidel at September 13, 2012 08:57 AM (O/fK8)

47 On the plus side, this has much in common with a campaign stunt: big promise/threat, limited ability to carry it out. If Romney is elected, it ends up being a limited QE (that we already knew was coming) that ends when Bernanke is either fired or reigned in (which, I believe, Romney has already promised. Stop laughing) In the short term, the administration gets to point and shout "See? See? We're doing SOMETHING while that HORRIBLE Romney does NOTHING!", all the while praying that the populace is too stupid/blind/apathetic to notice that the long term effects are potentially catastrophic. Now, should Obama get reelected (sign against the Evil Eye), all bets are off: these are, after all, folks who are profoundly economically illiterate, and who tend to believe that money does indeed grow on some kind of tree. We live in interesting times...

Posted by: Militant Bibliophile at September 13, 2012 08:57 AM (51I4Q)

48 Dang. Skulls bursting into flames all over the place.

Posted by: Mindy at September 13, 2012 08:58 AM (CC6tc)

49 Ace, why did you delete your IED story?

Posted by: EC at September 13, 2012 08:58 AM (GQ8sn)

50 Repeat from previous thread:

Helicopter Ben issues some more runaway inflation. Thanks asshole, I am living on a fixed income and I love $1 jumps in gasoline and bread prices.

I am beginning to wonder if we can make it these last few months until we get these incompetent fucks out of office.

And it is not going to do one damn thing for the economy, unemployment, or even reelecting the shit stain 'n chief.

All the economic shit is bad BECAUSE of the shit stain.

Posted by: Vic at September 13, 2012 08:58 AM (YdQQY)

51 Matt Yglesias likes it, so I guess that tells me what i need to know.

Posted by: Y-not at September 13, 2012 08:58 AM (5H6zj)

52 oops. win reelection.

Posted by: Infidel at September 13, 2012 08:58 AM (O/fK8)

53 Let's see...we had a dotcom bubble/crash and a housing bubble/crash...that's inefficient....let's crash the whole darn thing at once!!!!!!!!!!!!

Posted by: Harrison J. Bounel at September 13, 2012 08:58 AM (TWn4N)

54 Obama is a stutteriing clusterf*ck of a miserable failure.

Posted by: steevy at September 13, 2012 08:58 AM (6o4Fb)

55 Obama 2012: He'll make us all billionaires. Of course, a loaf of bread will be $100,000,000.

Posted by: WalrusRex at September 13, 2012 08:59 AM (XUKZU)

56 Romney should hammer how this hurts the fixed income crowd--or as we know them, "senior citizens."

Posted by: Warden at September 13, 2012 08:59 AM (0DlnM)

57 Is this Obama's "New Foundation" economy? Umm, we haven't finished digging yet. Gonna be the deepest foundation evah! ...Is that water?

Posted by: Barry O at September 13, 2012 08:59 AM (b1g/X)

58 It's nice to hear the Ambassador was sodomized before he was killed. These people are not savages, you know.

Posted by: Andrew Sullivan at September 13, 2012 08:59 AM (DrC22)

59 The man's a genius! To be able to claim there is low inflation while still making the dollar worthless!

Say.. does that fellow Ace still post here?

Posted by: Chi-Town Jerry at September 13, 2012 08:59 AM (f9c2L)

60 Oh and everyone under 30, myself included, we're fucked.

At this rate, I'd include anyone under 40.

I'm 42, so I'm sure I'll manage to get by when I retire. Cat food doesn't taste that bad, does it?

Posted by: Hollowpoint at September 13, 2012 08:59 AM (SY2Kh)

61 Yeah, if you are under 40, get used to the idea that you are going to work until the day you die; there will be no retirement for you.

And you'll shut your fucking mouth and like because the Boomers and those before earned their Social Security and Medicare. Even if you have to pay for it.

Posted by: RoyalOil at September 13, 2012 08:59 AM (imtbm)

62 QE III because the first II were t3h awesome and who needs real growth anyway?

Posted by: Sven10077@svenJolafson at September 13, 2012 09:00 AM (LRFds)

63 Does this help or hurt Romney (and Hugh Hewitt)? I can't tell...

Posted by: @ParisParamus at September 13, 2012 09:00 AM (bN5ZU)

64 A cruise ship with an open end? Kinda like the Titanic.

Posted by: The Mega Independent at September 13, 2012 09:00 AM (RiXrx)

65 Romney should definitely dump this guy or remove the Fed from its role in governing economic policy.

Posted by: Chairman LMAO at September 13, 2012 09:00 AM (9eDbm)

66 why isn't Zimbabwe considered the most prosperous nation on Earth?

Racism, plus it's Romney's fault.

Posted by: WalrusRex at September 13, 2012 12:56 PM (XUKZU)

You Americans wish you had as many trillionaires as we do.

Posted by: Zimbabwe at September 13, 2012 09:00 AM (7NP4t)

67 Okay so what does this mean? Was this to keep the credit rating up or will it do the opposite?

Posted by: the pink not panicking about one poll formerly known as the hobbit Donna at September 13, 2012 09:00 AM (W2Z3C)

@22

We're loaning money to ourselves and creating more money. So inflation mainly. You see it in commodities prices and food prices at first. Then it spreads. Then you would need a wheelbarrow but for debit cards. In a nutshell, we're trying to inflate out of our debt like a banana republic.

Posted by: Beagle at September 13, 2012 09:01 AM (sOtz/)

69 Regular spontaneous combustion around here.

Posted by: Mindy at September 13, 2012 09:01 AM (CC6tc)

70 More like "Wheelbarrow Ben".

Posted by: The Deutschmark at September 13, 2012 09:01 AM (zlvkY)

71 Attacks on Bangladeshi embassy, per Fox

Posted by: Truman North from the desktop PC at September 13, 2012 09:01 AM (I2LwF)

If Obama can't steal (tax) it from you, he's going to de-value it.

He wants to drain the harbor so everyone is stuck in the mud. Together.

Because, fairness.

Posted by: garrett at September 13, 2012 09:01 AM (6uCLh)

73 I dunno, Ben. The ones who seems most fucked are between 40-55. (I'm in that category.) Under 30, you may not have started a family, bought a home, become tied down to a place and lifestyle. Also, you are cheaper to hire. Over 40, you are expensive to hire (b/c of your benefits, if nothing else), likely locked into a home and/or community (not mobile, able to relocate), but you're too young to be protected by the promises Romney/Ryan are making to the over 55 crowd.

Posted by: Y-not at September 13, 2012 09:01 AM (5H6zj)

74 Intrade has Obama at 63% re-election probability.

All I can say is WTF?

This economy, and this foreign policy, and he's at 63%

What the hell does it take to get a President not relected nowadays?

Posted by: looking closely at September 13, 2012 09:02 AM (PwGfd)

75 15 Go out, drive around town, look around at the people. Do you think any of them have any idea what's going on? Posted by: Lady in Black at September 13, 2012 12:51 PM (lTVJy) No. Not "truly comprehend the ramifications of" understand. Union teachers. Ya gotta love 'em.

Posted by: 98ZJUSMC in Johnson County laughing at Cook County at September 13, 2012 09:02 AM (bZ7w2)

The only good thing about fuckstains like Lowry running his mouth is that shit is circling the bowl so fast that the infiltrators on our side are having to show their true colors to try and stop the bleeding.

They need to be treated like the dutch women who slept with the Nazis.

Posted by: Burn the Witch, who likes to mix metaphors at September 13, 2012 09:02 AM (eoedh)

77 With food and gas prices at all time highs, Bernanke causes further inflation to try to save the skin of Boy King Obama.

Posted by: Warden at September 13, 2012 09:02 AM (0DlnM)

78 Guess I can start using my kid's Monopoly money now.

Posted by: kevlarchick at September 13, 2012 09:02 AM (+dlqq)

79 >>>Attacks on Bangladeshi embassy, per Fox

We're sorry we offended the Bangladeshi people by having clothes. That was uncalled for and an inappropriate use of our freedom.

Posted by: The State Dept. at September 13, 2012 09:03 AM (zlvkY)

80
You see it in commodities prices and food prices at first. Then it spreads.
Posted by: Beagle

Ridiculous.

Now excuse me while I go out to gas up the car with a tank of $4.00 a gallon regular, then swing by the market for some $4.00 per pound 80/20 hamburger....

Posted by: Laurie David's Cervix at September 13, 2012 09:03 AM (kdS6q)

81 Two consecutive flaming skulls! Cats living with Dogs! Mass hysteria!!

Posted by: 98ZJUSMC in Johnson County laughing at Cook County at September 13, 2012 09:03 AM (bZ7w2)

82 Okay: it's time to borrow. Seriously. Take out a bunch of big fat mortgages and buy land. When the dollar goes Weimar you can pay off the loan with a couple of packs of cigarettes.

Oh, and you'll need ammo to defend your new land because legal title's probably going to be worthless anyway.

Posted by: Trimegistus at September 13, 2012 09:03 AM (lrvnD)

83 Only four months of it until Rpmney appoints someone else, hopefully better.

Posted by: Dirks Strewn at September 13, 2012 09:04 AM (zuH2X)

@80...THAT'S exactly what I was thinking...and I have two monopoly games!!

Posted by: defendUSA at September 13, 2012 09:04 AM (S0aj8)

85 I have said it for a while - "the plan" is to inflate the heck out of our currency, a burst of Argentia style 1500% inflation - and resetting things by chopping three zeroes off of the bill. All those underwater mortgages get reset to .1% of their value. And if you are on the government dole with everything dialed into the CPI, you are set. Fundamental transformation.

Posted by: MFM at September 13, 2012 09:04 AM (7vSU0)

86 At least Macaroni and Powdered Cheese is still only $3.00 a box.

Posted by: The Mega Independent at September 13, 2012 09:04 AM (RiXrx)

87 Y-not. I'm in that category too. We are truly f-cked.

Posted by: Infidel at September 13, 2012 09:04 AM (O/fK8)

88 I am feeling so very helpless these days and am thinking that we should be in the streets threatening to hold out leaders responsible for the destruction they wreaking. To do less is not worthy of our Founding Fathers and those who gave all for our country.

Posted by: Rondinellamamma at September 13, 2012 09:04 AM (53riN)

89 pay off the loan with a couple of packs of cigarettes. Fuckers ain't gettin' my smokes. Nuh-uh. That's a flogging offense.

Posted by: 98ZJUSMC in Johnson County laughing at Cook County at September 13, 2012 09:05 AM (bZ7w2)

90 Daniel Horowitz at RedState: www.redstate.com/2012/09/13/ bread-and-butter-issues-free-markets-monetary-stimulus-purchase-power-and-savings/

Posted by: Y-not at September 13, 2012 09:05 AM (5H6zj)

91 Lets see, while traveling on Sunday, I took the family thru the McDowell's drive thru, and it cost my $27 for two adult combos (not "Super Sized") and a Happy FrickingMeal. I'm a thinking that the inflation will find its way into commodities, not so much into the pockets of the great be-fucked.

Posted by: Big Fat Meanie at September 13, 2012 09:05 AM (Ec6wH)

92 more and more embassy attacks/protests and TFG is still out campaigning. Empty chair indeed.

Posted by: kawfytawk at September 13, 2012 09:05 AM (JWLqy)

93 >>>At least Macaroni and Powdered Cheese is still only $3.00 a box.

Puffball mushrooms should start sprouting in a woods near you soon, so there's that.

Posted by: Herr Morgenholz at September 13, 2012 09:06 AM (zlvkY)

94 Well the obvious problem with the economy is racism. Obama and the fed are doing a great job but racism is stopping them.

Posted by: Big T Party at September 13, 2012 09:06 AM (df8Sh)

95 Well this puts the final nail in the coffin of my retirement. I'm tempted to quit contributing to my 401k. I could use the extra $400 per month.

Posted by: DangerGirl at September 13, 2012 09:06 AM (z+Xap)

funny how we don't actually experience any financial relief ourselves with all this money flying around.

so i had to shlep several minutes to return home as my truck just stuttered and died. i can be grateful i had not made it to the grocers with the bags t caryy home.

i do have a question, with the mideast in flames what happens to their financial status and how along with this and europe..

anyone have a bunker i can borrow?

Posted by: willow at September 13, 2012 09:06 AM (TomZ9)

97 18 So, painful? Yes. Sad? Yes. Boned? Yes. But there may be some benefit. Texas will finally be freed. Secession!

Posted by: rickb223 at September 13, 2012 09:07 AM (owmw0)

98 Seems to me if you are younger, you have time to adjust. It's easier to revert to cheaper living when you are starting out than when you are older imho. Also, there are better times ahead. Those of us in the older working age category have less time to save for old age. And we are really hard to hire.

Posted by: Y-not at September 13, 2012 09:07 AM (5H6zj)

99 oh my gawd...is anyone listening to this idiot??

Posted by: kawfytawk at September 13, 2012 09:07 AM (JWLqy)

100 The other thing that is ludicrous about this shit is the lables QE-I, QE-II, and QE-III. The want us to believe they have only done this a few times.

They have been printing money constantly for the past 3 years. NOBODY is buying our debt but the fed. How about QE-∞

Posted by: Vic at September 13, 2012 09:07 AM (YdQQY)

101 Blow on these, honey. Box cars for daddy!!!!!!

Posted by: Bambi at September 13, 2012 09:07 AM (RiXrx)

102 Now excuse me while I go out to gas up the car with a tank of $4.00 a gallon regular, then swing by the market for some $4.00 per pound 80/20 hamburger.... ---- I think we should start a weekend regular thread on money-saving tips... cooking, food preserving, bargain shopping, home repairs, etc. There's a lot of expertise here from which we could all benefit.

Posted by: Y-not at September 13, 2012 09:08 AM (5H6zj)

103 41 Oh and everyone under 30, myself included, we're fucked. At least you have 20 more years than I do to start "mattressing" your cash.

Posted by: rickb223 at September 13, 2012 09:09 AM (owmw0)

104 I've never stormed an embassy. Is there an American embassy in the US? Cuz I can't afford the airfare.

Posted by: Herr Morgenholz at September 13, 2012 09:09 AM (zlvkY)

105 Y-not I agree. Our little office seems to be getting the snub from corporate, it's beginning to get very tense.

Posted by: Infidel at September 13, 2012 09:09 AM (O/fK8)

106 It's like fucking Bernake and this mob of an administration think they're playing SimCity and can just enter the "moneyeo" cheat code to make it all better.

Posted by: DangerGirl at September 13, 2012 09:09 AM (z+Xap)

107 Also your money will be losing value faster than you could ever earn interest on it anyway.

So we should have been buying those European negative interest bonds after all?

Posted by: HeatherRadish™ needs a beer at September 13, 2012 09:09 AM (/kI1Q)

108 Those of us in the older working age category have less time to save for old age. And we are really hard to hire.
Posted by: Y-not at September 13, 2012 01:07 PM (5H6zj)

Times are tough? Finding it difficult to make end meet? Perhaps I could interest in this sweet pill to make all your financial problems go away.

Posted by: Obama Care at September 13, 2012 09:10 AM (kzp9t)

109 GEORGE IS GETTIN" UPSET!

Posted by: George Costanza at September 13, 2012 09:10 AM (6uCLh)

110 >>>Get with a paleo/primal diet and lifestyle so you won't need meds and medical care.

Oh, you'll be able to get medical care. Bammi said so.

Posted by: Herr Morgenholz at September 13, 2012 09:10 AM (zlvkY)

111 OK, this is too depressing. I gotta go. Hang in there, peeples.

Posted by: Y-not at September 13, 2012 09:10 AM (5H6zj)

112 Simple, this is how they tax you without raising taxes.

It's also how they lower wages and fixed income compensation without overtly reducing the face-value number that shows up on your check.

Posted by: Hagbard Celine at September 13, 2012 09:11 AM (+/VIS)

113

Let me see if I get this straight: $4.00 gas, $5.00 peanut butter, and not enough corn or hay to feed our cattle, and this jackass thinks deflation is a concern???

Posted by: Rocketeer at September 13, 2012 09:11 AM (Z7toi)

114 runninrebel at September 13, 2012 01:08 PM (N/1Dm)

Ooh! I love prepper talk.

Posted by: Does this leg smell gammy? at September 13, 2012 09:11 AM (vndQB)

115

i'm going to need a psychiatrist and meds soon, if this keeps on.

anyone else having huge issues with sleeping? or lack of?

Posted by: willow at September 13, 2012 09:11 AM (TomZ9)

116 >>>OK, this is too depressing. I gotta go.

Me too. That ammo ain't gonna count itself.

Posted by: Herr Morgenholz at September 13, 2012 09:11 AM (zlvkY)

117

Jesus H. Christ.

This is bullshit. Open-ended purchases of MBS is throwing in the towel on ever weaning the housing/mortgage market off of government life support. We'll never get back to a normal functioning economy until that happens.

It also heavily penalizes good banks like the one I work for which holds mortgage in portfolio and doesn;t sell or securitize them. Ifthe Fed is buying everyting, who is setting the underwriting standards? This is going to produce another slide into subprime mortgage hell, as sure as I'm sitting here. And banks like mine who won't write those crap loans (and really, we can't because we've got the OCC and CFPB up our poop chute on this stuff) are screwed and will lose all the business to Wells Fargo and Bank of America.

Fuck fuck fuck fuck

Posted by: rockmom at September 13, 2012 09:12 AM (qE3AR)

118 >>>anyone else having huge issues with sleeping? or lack of?

Masturbation and liquor.

Posted by: Herr Morgenholz at September 13, 2012 09:12 AM (zlvkY)

119 76 Intrade has Obama at 63% re-election probability. Wish I had a bunch of cash to put down. I see a clean up in the making.

Posted by: rickb223 at September 13, 2012 09:13 AM (owmw0)

120 Can I please go back to being politically ignorant now? I loved everything so much more when I thought I was a lib. Granted that was before 9/11...

Posted by: The Mega Independent at September 13, 2012 09:13 AM (RiXrx)

121 Thank g-d I no longer have money to lose.

Posted by: Truck Monkey at September 13, 2012 09:14 AM (jucos)

122 ^{So what does this produce?}

I'll take Hyper-Inflation for $1,000,000,000,000 Alex.

Posted by: Paladin at September 13, 2012 09:14 AM (+Wvn3)

123 we can't because we've got the OCC and CFPB up our poop chute on this stuff) are screwed and will lose all the business to Wells Fargo and Bank of America.Fuck fuck fuck fuck Posted by: rockmom

Behold the power of a fully-operational Crony Star!

Posted by: weft cut-loop [/i] [/b] at September 13, 2012 09:15 AM (NRwWP)

124

Herr, hell i'm guzzling nyquil everynight, sleep lasts for about 2 hours.

i broke down today and was so incensed i actually hit my truck wth my purse. like a mad person.

'take that,' truck!

Posted by: willow at September 13, 2012 09:15 AM (TomZ9)

125 As always my question is, if running up tremendous public debt and inflating the currency is the key to prosperity, why isn't Zimbabwe considered the most prosperous nation on Earth? Zimbabwe didn't have a massive bubble of private-sector debt which was deflating. A much closer analogy is post-bubble Japan. Of course, there hasn't been much of a happy ending there either. What Romney should say: Is this Obama's "New Foundation" economy? Built on trillion dollar deficits and cheap money? But this is, to all important purposes, Romney's policy too.

Posted by: anonymour irishman at September 13, 2012 09:15 AM (DJgfL)

126 #128 well, duh, the Fed is still the chief regulator of the major bank holding companies. It's been doing their bidding for years.

Posted by: rockmom at September 13, 2012 09:16 AM (NYnoe)

127 I'm sure this goes without saying, but if you are in the stock market (including mutual funds) now is a good time to go to cash. You can get back in after the next crash, sometime between October and after the elections.

Posted by: Mindy at September 13, 2012 09:16 AM (CC6tc)

128

Truck, me either.

a silver lining? i'm not feeling it.

Posted by: willow at September 13, 2012 09:16 AM (TomZ9)

129 Meh, sorry for the double-post. As always my question is, if running up tremendous public debt and inflating the currency is the key to prosperity, why isn't Zimbabwe considered the most prosperous nation on Earth? Zimbabwe didn't have a massive bubble of private-sector debt which was deflating. A much closer analogy is post-bubble Japan. Of course, there hasn't been much of a happy ending there either. What Romney should say: Is this Obama's "New Foundation" economy? Built on trillion dollar deficits and cheap money? But this is, to all important purposes, Romney's policy too.

Posted by: anonymous irishman at September 13, 2012 09:16 AM (DJgfL)

130 132 By "now," I mean after the current sugar-rush wears off.

Posted by: Mindy at September 13, 2012 09:17 AM (CC6tc)

131 (So HTML tags no longer work here? What's the magic now?)

Posted by: anonymous irishman at September 13, 2012 09:17 AM (DJgfL)

132 FOR SALE: (3) Carbine, .30Cal, M-2 sans selector switch. Complete with 4-15 Rnd and 4-30 Rnd Magazines Ea., Sling and Oiler. QEIII priced to move @$4,500.00 Ea. Just kidding. Those are all hidden in waterproof hide locations throughout the countryside.

Posted by: 98ZJUSMC in Johnson County laughing at Cook County at September 13, 2012 09:17 AM (bZ7w2)

133 Notice the price of commodities increasing, inflation coming soon.

Posted by: NortonPete at September 13, 2012 09:19 AM (8zxoH)

134

Euell Gibbons was ahead of his time. Pretty soon we'll all be eating pine cones and tree bark.

(This joke is for people over 50 only.)

Posted by: WalrusRex at September 13, 2012 09:19 AM (XUKZU)

135 Truck, me either. a silver lining? i'm not feeling it. Posted by: willow at September 13, 2012 01:16 PM (TomZ9) -------------------------------------------------------- Me? Jobless and laughing. What else are we to do? Let the whole thing burn..... why not

Posted by: Truck Monkey at September 13, 2012 09:19 AM (jucos)

136 #129 Don't take NyQuil, get some Unisom pills, they are a higher dose of the antihistamine called doxylamine succinate that is in NyQuil. NyQuil is hugely expensive and you don't need the cough medicine and pain reliever. Unisom is much cheaper and you can calibrate the dosage to get your sleep. I alternate taking those with Trazodone, which is a prescription med. Both have worked well for me. I tried Ambien and it caused memory loss.

Posted by: rockmom at September 13, 2012 09:19 AM (NYnoe)

137 holy f*ng shit. We r so screwed. I guess the ben bernake figured out how to avoid the problem of selling worthless debt when the interest rates are so low. Just buy your own. That's going to work just super duper.

Posted by: joeindc44 will boo your chosen deity on TV some day too at September 13, 2012 09:19 AM (QxSug)

138 132 I'm sure this goes without saying, but if you are in the stock market (including mutual funds) now is a good time to go to cash.

Gold is up $35 an oz. and Silver is up $1.40.

Posted by: TexBob at September 13, 2012 09:20 AM (XzkCL)

139
Good afternoon. One of a President's most important appointments is Chairman of the Federal Reserve. In our economy, the Fed is the independent body responsible for setting monetary policy, for overseeing the integrity of our banking system, for containing the risk that can arise in financial markets, and for ensuring a functioning payment system. Across the world, the Fed is the symbol of the integrity and the reliability of our financial system, and the decisions of the Fed affects the lives and livelihoods of all Americans.

To lead this institution, a Chairman must be a person of impeccable credentials, sound policy judgment, and character. Today I'm honored to announce that I'm nominating Ben Bernanke to be the next Chairman of the Federal Reserve.

George W. Bush
October 24, 2005

Posted by: Laurie David's Cervix at September 13, 2012 09:20 AM (kdS6q)

140 rockmom, thank you for that suggestion. I'll try it next time i actually make it to the grocers.

Posted by: willow at September 13, 2012 09:21 AM (TomZ9)

141 141 I tried Ambien and it caused memory loss. Take the Ambien. Maybe you can forget about the last 4 years & keep your sanity.

Posted by: rickb223 at September 13, 2012 09:21 AM (owmw0)

142 Truck, It's truly been a harsh 4 years.

Posted by: willow at September 13, 2012 09:22 AM (TomZ9)

143 139 Euell Gibbons was ahead of his time. Pretty soon we'll all be eating pine cones and tree bark. (This joke is for people over 50 only.) Posted by: WalrusRex at September 13, 2012 01:19 PM (XUKZU) Shut up. :-) Luckily, I border a National Forest with many edible picnic tables.

Posted by: 98ZJUSMC in Johnson County laughing at Cook County at September 13, 2012 09:22 AM (bZ7w2)

144 Ben's Trickle Through Economics:

1. Print $
2. Give it to banks
3. ?
4. Prosperity!

Posted by: VA Gator at September 13, 2012 09:23 AM (ZZiTD)

145 @144, ouch. W, ouch.

Posted by: joeindc44 will boo your chosen deity on TV some day too at September 13, 2012 09:23 AM (QxSug)

146 Soon enough we will need to print trillion dollar bills.It will take three of them to buy a loaf of bread.

Posted by: Drider at September 13, 2012 09:23 AM (HaJD9)

147 #145 You're welcome! I've battled sleep problems pretty much my whole life. My biggest problem is making myself go to bed, I'm a night owl but have to be up by 6:30 now to get to work.

Posted by: rockmom at September 13, 2012 09:23 AM (qE3AR)

148 It will take three of them to buy a loaf of bread.

You can't have bread. National security.

Posted by: Mrs SCOAMF at September 13, 2012 09:24 AM (/kI1Q)

149 151 Soon enough we will need to print trillion dollar bills.It will take three of them to buy a loaf of bread. Pfftttt.....been there, done that.

Posted by: Weimar Republican at September 13, 2012 09:25 AM (bZ7w2)

150 1.4 Trillion in soft money. Is that enough to buy an election?

Posted by: Gulfkraken at September 13, 2012 09:26 AM (WBfjO)

151 What are you people crying about?

Posted by: Robert Mugabe at September 13, 2012 09:26 AM (jucos)

152 Dude simply won't stop until he destroys not only our economy but the global economy too. If Romney wins literally the first thing he should do -- even before inauguration day -- is to strong arm Bernanke into hitting the road, jack. If Obama wins, however, then we're looking at double digit inflation and perhaps even 20-25% reported unemployement rates. Shit will get ugly.

Posted by: Tsar Nicholas II at September 13, 2012 09:27 AM (f8XyF)

153 Brother just called to tell me to buy Smith&Wesson stock. Gun sales are about to take off again.

Posted by: rockmom at September 13, 2012 09:27 AM (NYnoe)

154 Please return your seat backs and tray tables to their full upright and locked positions, and assume crash position. God bless and good luck.

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:27 AM (27BP7)

155 Time to print denominations in billion dollar bills so we can still buy a loaf of brea.

Posted by: Mekan at September 13, 2012 09:27 AM (hm8tW)

156 So....QEIII props up the stock market? How does this help the private sector actually? How does it improve the job market? How does it keep the cost of groceries and gas down for struggling families? I'm guessing it will make everything worse. I don't see how this helps TFG.

Posted by: Lady in Black at September 13, 2012 09:28 AM (lTVJy)

157 Mr Bernake what you've just said is one of the most insanely idiotic things I have ever heard. At no point in your rambling, incoherent response were you even close to anything that could be considered a rational thought. Everyone in this room is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:29 AM (27BP7)

158 Gun sales are about to take off again.

May as well spend it if you've got it.

Posted by: HeatherRadish™ still needs a beer at September 13, 2012 09:30 AM (/kI1Q)

159 Let the hunger games begin! Heh I've got tree bark soup, and an extra femur for bludgeoning.

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:30 AM (27BP7)

160

Depressed interest rates?

Can they get lower than 0%?

Posted by: entropy at September 13, 2012 09:30 AM (TULs6)

161 Also, the internal numbers on unemployment for this month must be awful if they went a head with this today.

Posted by: Gulfkraken at September 13, 2012 09:30 AM (WBfjO)

162 157 Dude simply won't stop until he destroys not only our economy but the global economy too. If Romney wins literally the first thing he should do -- even before inauguration day -- is to strong arm Bernanke into hitting the road, jack. If Obama wins, however, then we're looking at double digit inflation and perhaps even 20-25% reported unemployement rates. Shit will get ugly. Posted by: Tsar Nicholas II at September 13, 2012 01:27 PM (f8XyF) Cool! I can quit wondering if I will ever get to visit Greece or Spain. They're gonna visit me.

Posted by: Weimar Republican at September 13, 2012 09:31 AM (bZ7w2)

163

Redistribution...John Galt...Cloward and Piven

No one can convince me that al-Obama's plan isn't to destroy America. He hates it. His "father" hated it. His mother hated it. Michele hated it until al-Obama was nominated for president. She said he would "fundamentally change America". How anyone can say this guy is just some incompetent is overlooking this guy's background, upbringing, history, stated goals, and current actions.

Posted by: Havedash at September 13, 2012 09:31 AM (F0WNa)

164 In the Carboniferous Epoch we were promised abundance for all, By robbing selected Peter to pay for collective Paul; But, though we had plenty of money, there was nothing our money could buy, And the Gods of the Copybook Headings said: "If you don't work you die."

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:32 AM (27BP7)

165 If you don't have a wheelbarrow, you better buy one as soon as you can.

Posted by: Jay Bee at September 13, 2012 09:33 AM (Xwgt3)

166

QE sounds too much like a sunken ship.

@88 It's amazing how simply knowing about past events makes a person some kind of radical psychic these days. Like knowing Obama was really a hardcore ideological leftist based on his voting record and personal history. Dangerous, racist opinion, though true.

I'm just waiting for the travel restrictions on the rich. Then we can go straight to the raked dirt and guard towers.

Posted by: Beagle at September 13, 2012 09:33 AM (sOtz/)

167 So besides in my mattress, where is a good place to put my money right now?

Posted by: DangerGirl at September 13, 2012 09:33 AM (z+Xap)

168 Mortgage rates are at 3.25% and giving points, interest rates just cannot get lower if the bank's willing to pay you to take the lowest rate they offer.

Posted by: Clownf*cker at September 13, 2012 09:34 AM (sPO/s)

169 Because food and energy prices weren't high enough already, I suppose. Wow.

I mean, it's not like high global food prices aren't causing political instability or anything. Oh, wait...

That sound you just heard was Da Fed firing the last bullet they have in their arsenal. Hello biflation (inflation in everything you need to live, deflation in everything you want to sell). This should end well.

Posted by: docj at September 13, 2012 09:34 AM (A5uiv)

170 Did they get this idea from the dude who was throwing wads of stolen money out of the car window yesterday?

Posted by: yinzer at September 13, 2012 09:34 AM (/Mla1)

171 Inflation soaring, savings rates are almost 0%.

Why the hell am I saving money?

Posted by: HoboJerky, now with 45% more DOOM! at September 13, 2012 09:35 AM (xAtAj)

172
If Romney wins literally the first thing he should do -- even before inauguration day -- is to strong arm Bernanke into hitting the road, jack.

Posted by: Tsar Nicholas II

Romney has said he won't re-appoint, thanks loads Mitt, but Ben has a four year term thru 2014. He ain't going anywhere.

Posted by: Laurie David's Cervix at September 13, 2012 09:35 AM (kdS6q)

173 >>>So besides in my mattress, where is a good place to put my money right now? Physical durables that can be resold.

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:35 AM (27BP7)

174 @172 pretty much anywhere other than your mattress, actually.

Get some Gold while it's still south of $1800/oz and silver while it's still less than $35/oz. You might have to do it by tomorrow to get those prices, though.

Posted by: docj at September 13, 2012 09:36 AM (A5uiv)

175 They don't call him "Helicopter" Ben for nothing.

Please. Help me.

Posted by: The QE Chicken at September 13, 2012 09:36 AM (xAtAj)

176 So besides in my mattress, where is a good place to put my money right now?

Posted by: DangerGirl at September 13, 2012 01:33 PM (z+Xap)

A strippers g-string. No point saving it.

Posted by: yinzer at September 13, 2012 09:36 AM (/Mla1)

177 Thank god that food and energy prices are not involved in the inflation rate.

Posted by: Truck Monkey at September 13, 2012 09:36 AM (jucos)

178

Â“I knew that he would continue the legacy of Alan Greenspan, and I was right,Â” said Senator Jim Bunning, Republican of Kentucky, who was the lone vote against Mr. Bernanke in 2005.

Posted by: Laurie David's Cervix at September 13, 2012 09:36 AM (kdS6q)

179 Guns, ammo, canned food.

Posted by: HoboJerky, now with 45% more DOOM! at September 13, 2012 09:37 AM (xAtAj)

180 Timing. To me, I had heard people thinking this was going to take place in October, but since it happened now, I am thinking the internals must be really bad for Evil Overlord. He is burning the house down on the way out the door. Romney cannot inherit anything worth anything. Good God is this bad. For those saying they do not get the economic stuff, this is an 18 c. Lit degree person who decided it was best to figure this economic stuff out and PDQ. It will give you a headache, but to understand the problem, and the solutions, you had better start learning. A good way to describe where we are, for those non-econ people, would be to say that our economy is just like Marines in Libya, unarmed, with savages to the Left of us, (Obama), and one major ass Joker to the Right, (Bernanke), and we are stuck in the middle until November, and quite frankly, beyond until this fire is put out by R&R. GOLD is exploding!!!!!! Peter Schiff was going off on FBN forecasting shit storm deluxe headed our way. OMG!

Posted by: freeus at September 13, 2012 09:37 AM (caDgg)

181 STRIKE! STRIKE! STRIKE!

GIVE US MORE STUFF!

Posted by: Chicago Teachers at September 13, 2012 09:37 AM (znT2j)

182 166 Also, the internal numbers on unemployment for this month must be awful if they went a head with this today.

Posted by: Gulfkraken at September 13, 2012 01:30 PM (WBfjO)

I think I heard on the snooze that unemployment apps were up 15k...which was attributued to the hurricane, I shit you not

Posted by: Red Shirt at September 13, 2012 09:37 AM (FIDMq)

183

Inflation Autumn, baby!

Posted by: Commander Choom at September 13, 2012 09:38 AM (/Mla1)

184 Unsolicited advice folks - if you're not already reading zerohedge DOT com and market-ticker DOT org?

Start. Now. Today.

Posted by: docj at September 13, 2012 09:38 AM (A5uiv)

185 Ben Bernake. Wakes up every morning and says to himself. "what do I have to do today to make Glenn Becks forecasts look optimistic?"

Posted by: MikeTheMoose Lite! 98% Anger Free! at September 13, 2012 09:40 AM (27BP7)

186 Hulk smash meter is about maxed out with these fuckers, cmon november!

GTFO 2012

Posted by: Red Shirt at September 13, 2012 09:40 AM (FIDMq)

187 This must be how I'm going to get my rent and gasoline vouchers. Finally!

Posted by: Peggy Joseph at September 13, 2012 09:40 AM (znT2j)

188

BTW - Ben was confirmed for his second term in 2010 on a 70/30 vote. 22 Republicans for, 18 against.

Thanks again, Senate Republicans....

Posted by: Laurie David's Cervix at September 13, 2012 09:40 AM (kdS6q)

189 The bigger problem with all this? We stop being the worlds 'reserve currency' in very short order. I.e. - the ability to literally 'paper' over these problems goes away. The old game? It's over. The new game: Basic Survival. We are officially a 3rd world country, and for what its worth, the 52% will be the hardest hit for the most part. It isn't ideal, but at least I'll get to watch a couple million of them literally starve to death. So yah, that's nice.

Posted by: Is what JQ Public is thinking... at September 13, 2012 09:46 AM (NBj0d)

190 In Weimar, you needed a wheelbarrow full of Reichsmarks to buy a loaf of bread. In QE3 America, you'll need a wheelbarrow full of ATM cards to do likewise...

Posted by: Cobalt Shiva at September 13, 2012 09:53 AM (1iauC)

191

I used to feel guilty about the young'uns. Then they voted overwhelmingly for just this.

Suck it up kids. You voted for this shit.

Posted by: Invictus at September 13, 2012 09:54 AM (OQpzc)

192 He's way past "Helicopter Ben."

He's been "Zimbabwe Ben" for years.

Posted by: W.C. Varones at September 13, 2012 09:54 AM (FL7kh)

193 James Pethokoukis reacts. "What Romney should say: Is this Obama's "New Foundation" economy? Built on trillion dollar deficits and cheap money?"

We are so screwed.
...

No kidding.

What Romney would say? No need to audit the Federal Reserve. Sure, fire Bernanke, and bring back Paulson.

Posted by: panzernashorn at September 13, 2012 09:55 AM (BAnPT)

194 Masturbation and liquor. That should be a store, not a government agency!

Posted by: Golan Globus at September 13, 2012 09:56 AM (7vSU0)

195 Sweet potatoes are delicious, nutritious, and easy to grow. Just sayin'.

Posted by: toby928© at September 13, 2012 10:15 AM (QupBk)

196 We are not screwed yet! Only if Obama wins are we toast. As an aside, Glenn Beck is now a huge Mitt fan based on what they are finding out about Romney. Glenn has always said we should find another George Washington - and here he is a man of incredible character. Blaze TV will be showing many of the stories they have dug up.

I would love to link this but for some reason I fail at linking on AoS, but I saw the story on Right Speak blog site.

Posted by: MSM at September 13, 2012 10:19 AM (C0YLz)

197 So does this insure a downgrade or will Moody's look at this as, hey, there is a shit ton more money, seems we have achieved upgrade status.

Posted by: Drider at September 13, 2012 10:29 AM (HaJD9)

198 I've been trying to deleverage as fast as I can with the intent of being debt-free altogether, but it would seem that in a hyperinflation environment, I should be borrowing as much as possible with the long term plan of just walking away from the collateral when the Obamaclypse comes, or paying it back with inflated funny money.

Posted by: toby928© at September 13, 2012 10:33 AM (evdj2)

199 OK - all you money people - should I get out of stocks? If money will be worthless - what should I hold? Should I start buying guns, ammo, toilet paper, canned food and condoms???

Posted by: izoneguy at September 13, 2012 10:38 AM (oKH8p)

200 All your mortgages are belong to us

Posted by: The Federal Reserve at September 13, 2012 10:41 AM (XvHmy)

201 INFLATION out the door!! Japan tried this and it FAILED MISERABLY...who hires based on a False Stimulus?? QE2 DID??? Nothing!!! Look where we are....another 2 trillion in debt and not one ounce of improvement....Gas Prices here in Florida jumped to 3.75 today!! The QE3 DOES NOTHING for jobs, incomes or growth. Good Grief...another BIG GOVERNMENT FAILURE!

Posted by: bluerose75 at September 13, 2012 10:41 AM (HDcKc)

202 "...thanks loads Mitt, but Ben has a four year term thru 2014. He ain't going anywhere."

Remove the son of a bitch from office, by force if necessary.

Then take him out back, beat his ass silly, then shave his beard off and parade him in front of live TV cameras for all to see.

Posted by: Blacque Jacques Shellacque at September 13, 2012 10:44 AM (vd7A8)

203

Anything for dear leader. Problem is, it won't help in any real way.

Like pouring maple syrup on a snake bite.

Posted by: Fresh at September 13, 2012 10:48 AM (O7ksG)

204

Awesome!

The spike in gas prices should TOTALLY help the re-annointing of The One.

Unless he plans on draining the Strategic Petroleum Reserve.

Which will also prove to be most awesome as it will be at the same time the kerfuffle starts near and around the Hormuz straight.

Boned by a Tyrannosaurus, I feel.

Posted by: Gunslinger at September 13, 2012 10:53 AM (4S7hN)

205 " It's an open-ended program to buy bonds until the economy improves."

= = = = =

In related news, Our Masters announce that the floggings will continue until morale improves.

Posted by: A_Nonny_Mouse at September 13, 2012 10:56 AM (hq0VE)

206 @205 As to the mortgage issue, I see hypothecation and rehypothecation coming our way. "Yes, all your mortgages are ours now." Totally agree with your sentiment! @204 izoneguy- Even the federal government says to have several days of food and needed prescriptions on hand. After Katrina, after Isaac, tornados and fires, ask yourself, would just 5 days get you where you need to be if things went screwy for say a month? As to investments, you need to look at what Zero Hedge and others of their ilk are saying. As your parents, grandparents, or look up what the Great Depression was like for an average American. Look at "The Forgotten Man" and other books of that vein. History tells us what to anticipate, and what will be required of us. James Wesley Rawles, and David Morris look them up. Live accordingly.

Posted by: freeus at September 13, 2012 11:04 AM (caDgg)

207 Ive already picked out my 2 obese neighbors for culling, they will last me at least till mid summer. I was planning on buying a new bicycle this weekend. Guess I'm off to the gun store, again.

Posted by: evil Libertarian at September 13, 2012 11:07 AM (myZeE)

208 So they're buying crappy mortgages that already exist or giving away new mortgages to people who can't afford them?

Oh, what's the difference. We're doomed.

Posted by: PJ at September 13, 2012 11:34 AM (DQHjw)

209 Romney would be able to attack Obama on this if his plan was significantly different. His plan will still have near trillion dollar deficits in 2017 and half trillion ones in 2020. Of course, that is if there are no negative economic happening between now and those dates. I could just as easily be Romney pushing for a trillion dollar plus stimuless when the Euro finally collapses or China's lies come to bear. Or one of the crony capitalists he hires screams bomb in a crowded theater full of people with investments, kind of like what happened under Bush.

Posted by: astonerii at September 13, 2012 02:27 PM (ZbNF2)

210

Dear Mitt,

Fuck you. I ain't going anywhere.

Yours Truly,

Posted by: Ben Bernanke at September 13, 2012 03:08 PM (ZETiK)

211 Imprison Bernanke and all the Private Shareholders of the federal reserve, seize all of their assets and shut down their tax revenue system, then return to Following the constitution and stop letting a Private bank violate what is written right into the Constitution. Cancel the debt owed the crooks from their debt based money and go back to actual U.S. Government Issued currency.

Posted by: Marine D.I. at September 13, 2012 05:17 PM (15RmS)

Hide Comments | Add Comment | Refresh | Top

Comments are disabled. Post is locked.

168kb generated in CPU 0.2357, elapsed 0.3585 seconds.
64 queries taking 0.3061 seconds, 339 records returned.
Powered by Minx 1.1.6c-pink.