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[ducksoup]

So the Fed is creating money out of thin air to buy mortagage backed securities from the big banks. Helps those banks unload toxic paper on their books. Great for them. Lowers interest rates. Devalues the dollar. If over a lifetime you sacrificed to build up a nest egg, sorry sucker. Roll the dice on a stock market pumped up with funny money and hope you get out in time.

Meanwhile the price of commodities (food, energy etc. etc.) will continue their rise into the stratosphere with a corrresponding drop in you're standard of living. Its a mad, mad world out there and I fear it's going to get worse, a  lot worse. 

John, I never would have believed I would see the day that you advocated against trickle down economics.

[John Kopke]

John, I never would have believed I would see the day that you advocated against trickle down economics.

I'm not into "this" trickle down crap. Not when it's done wth funny money. Bernanke's QE3, or QE infinity, gave the stockmarket a very temporary sugar high, but I don't see it sustaining growth in the stock market. I got back in the stock market about a year ago, up maybe 5%, but Im looking to pull the plug.

The world economy is a big mess. Seems like everybody is printing money trying to solve their spending/debt problems by doubllng down on debt with printed money.

Chinese economy is going down seriously. They aren't going to be buying our debt, or very little. I'm of the opinion there is a deal between the Fed and the banks they're buying these bonds from whereby the banks will be using the printed money to buy treasuries to fund the deficit.

Then I read it isn't just a matter of covering the next trillion dollar plus yearly deficit because we have like $ 4 trillion in treasuries maturing over the next 12 monthes or so. Are the owners of these treasuries going to want to roll them over?

We spend our time arguing about whether, or not, we should tax the wealthy more. Meanwhile we're all getting hosed as the Fed and the government monetise the government debt by continuing to seriously debase our currency.
 
It is going to get real scary when it gets so bad the people finally realize the deception our so called leaders have perpetuated on us all. Funny thing is, when it really hits the fan, I expect most folks will still look to the government to make things right, kinda like asking the arsonist to help put out the fire.
   

[ducksoup]

The media’s inscrutable brush-off of the Government Accounting Office’s recently released audit of the Federal Reserve has raised many questions about the Fed’s goings-on since the financial crisis began in 2008.

The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy.  It is the first audit of the Fed in United States history since its beginnings in 1913.  The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.  Upon hearing the announcement that the first-ever audit would take place in July, the media was bowled over and nearly every broadcast network and newspaper covered the story.  However, the audit’s findings were almost completely overlooked, even with a number as high as $16 trillion staring all of us in the face.

Sanders press release, dated July 21st, stated:

“No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president.”
http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

[John Kopke]

The media’s inscrutable brush-off of the Government Accounting Office’s recently released audit of the Federal Reserve has raised many questions about the Fed’s goings-on since the financial crisis began in 2008.

The audit of the Fed’s emergency lending programs was scarcely reported by mainstream media – albeit the results are undoubtedly newsworthy.  It is the first audit of the Fed in United States history since its beginnings in 1913.  The findings verify that over $16 trillion was allocated to corporations and banks internationally, purportedly for “financial assistance” during and after the 2008 fiscal crisis.

Sen. Bernie Sanders (I-VT) amended the Wall Street Reform law to audit the Fed, pushing the GAO to step in and take a look around.  Upon hearing the announcement that the first-ever audit would take place in July, the media was bowled over and nearly every broadcast network and newspaper covered the story.  However, the audit’s findings were almost completely overlooked, even with a number as high as $16 trillion staring all of us in the face.

Sanders press release, dated July 21st, stated:

“No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president.”
http://www.forbes.com/sites/traceygreenstein/2011/09/20/the-feds-16-trillion-bailouts-under-reported/

Well Duck I think we're in agreement to a degree. But, in my opinion this audit was only skin deep. Look at the mission statement of the Fed. Maintain the value of the currency and secure us from the economic hills and valleys. Well we had some hills and valley's prior to the creation of the Fed in 1913, but none of them compared to the Depression of the 30s or the he crash of 2008.

[SMASH]

Well Duck I think we're in agreement to a degree. But, in my opinion this audit was only skin deep. Look at the mission statement of the Fed. Maintain the value of the currency and secure us from the economic hills and valleys. Well we had some hills and valley's prior to the creation of the Fed in 1913, but none of them campared to the Depression of the 30s or the he crash of 2008.

Even with the Fed in place don't leave out the often forgotten Depression of 1921!

[John Kopke]

Even with the Fed in place don't leave out the often forgotten Depression of 1921!

Indeed. And what did the Federal Government do to turn things around? I think the folks in the forum should check it out and learn for themselves.

[eriemermaid]

Indeed. And what did the Federal Government do to turn things around? I think the folks in the forum should check it out and learn for themselves.

Sheesh, I don't know how this topic got so off track!  Why all this political crap on a thread about a new cruise ship?  What happened to the QE2?  Why is there now a QE3?  I can't wait for my next cruise.          

[marilyn.monroe]

I'm not into "this" trickle down crap. Not when it's done wth funny money. Bernanke's QE3, or QE infinity, gave the stockmarket a very temporary sugar high, but I don't see it sustaining growth in the stock market. I got back in the stock market about a year ago, up maybe 5%, but Im looking to pull the plug.

The world economy is a big mess. Seems like everybody is printing money trying to solve their spending/debt problems by doubllng down on debt with printed money.

Chinese economy is going down seriously. They aren't going to be buying our debt, or very little. I'm of the opinion there is a deal between the Fed and the banks they're buying these bonds from whereby the banks will be using the printed money to buy treasuries to fund the deficit.

Then I read it isn't just a matter of covering the next trillion dollar plus yearly deficit because we have like $ 4 trillion in treasuries maturing over the next 12 monthes or so. Are the owners of these treasuries going to want to roll them over?

We spend our time arguing about whether, or not, we should tax the wealthy more. Meanwhile we're all getting hosed as the Fed and the government monetise the government debt by continuing to seriously debase our currency.
 
It is going to get real scary when it gets so bad the people finally realize the deception our so called leaders have perpetuated on us all. Funny thing is, when it really hits the fan, I expect most folks will still look to the government to make things right, kinda like asking the arsonist to help put out the fire.
   

Government is like fire! -George Washington

Sheesh, I don't know how this topic got so off track!  Why all this political crap on a thread about a new cruise ship?  What happened to the QE2?  Why is there now a QE3?  I can't wait for my next cruise.          

[Baggins]

Sheesh, I don't know how this topic got so off track!  Why all this political crap on a thread about a new cruise ship?  What happened to the QE2?  Why is there now a QE3?  I can't wait for my next cruise.          

Because these "people" are robots...


QE2 retired from active Cunard service on 27 November 2008. She was acquired by Istithmar, the investment company of Dubai World, which planned to begin conversion of the vessel to a floating hotel moored at the Palm Jumeirah, Dubai.