Does anyone really believe this Pollyanna pie-in-the-sky nonsense now coming from the mainstream media? With QE3, We All Win — Poor and Rich Alike. What balderdash! Let’s face facts, folks: The Federal Reserve has backed itself into a corner. They can’t do anything that will trigger higher interest rates. So the only arrow left in their quiver is monetization (“quantitative easing” is the gentler, sugar-coated name.) Their brilliant plan is to re-inflate the housing bubble by buying up $40 billion per month, indefinitely, in mortgage derivatives using make-believe money. This pure fiat “money” is coming from their Sunshine Pump. I can only ask: How long can that continue? And how long will it be until our foreign creditors demand a higher rate of return to roll over their Treasury paper? Once interest rates rise, the party will be over. We will see a credit collapse and then a collapse of the US Dollar. – SB
This is the part of the post where I say, ‘duh‘ and hope that anyone reading this wakes up to the reality of the day and helps others pull their heads from either the sand or a shady orifice.
“If you don’t do anything, nothing will change.” – Ernest Lamothe, Northern Vermonter, 1961