Official: Economy Headed Down

“A renewed faltering of U.S. economic activity is a fortuitous development for the bank-propping needs of the Federal Reserve. . . . the banking system remains severely stressed, with some form of new easing—a QE-3—likely just a matter of time, and likely sooner rather than later.  All Fed actions since the crisis of 2007 and panic of 2008 have been aimed at saving the banking system—not the economy—where the survival and health of banking system is the Fed’s primary function. . . .there is little the Fed can do to stimulate the economy or to contain inflation.”   I think it’s official, the economy is heading down.  So, expect the Fed to print money to save the banks–again.

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