The Sequel To The Sequel: QE3

The Federal Reserve announced the sequel to the sequel on Thursday with Quantitative Easing 3.  After all, if something didn’t work the first time might as well rinse and repeat.  The markets are rallying yet what has come from the QEI, QEII, TALF, TARP, and all of those other backdoor bailouts?  What has resulted is that we now have the highest poverty rate in a generation and US households have seen their household income fall back to levels last seen in 1995.  Is this the solution?  Who really benefits from these negative interest rates?  The Fed had a hand in engineering the biggest real estate bubble we have ever witnessed and is now trying to allow banks off the hook by pushing rates so low that inflated prices appear lower simply because of the monthly payment.  The middle class in the US has declined substantially since the 1970s and many failed to even acknowledge the reality that the national debt passed the $16 trillion mark.  The solution?  More debt and lower interest rates…

http://www.mybudget360.com/federal-reserve-qe3-benefits-banks-and-financial-institutions-household-income-1995-levels/

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QE∞! To the tune of 40 billion a month, the chairman of the privately owned central bank cartel, Ben Bernanke has “caved” and in order to “combat unemployment” he has announced that he will hand over all this money to the big banks that fucked us in the first place, buying up the toxic assets they created.

Oh joy

Not only that, but he “promises” to keep the interest rate near 0% through 2015 which will decimate things like your saving accounts and your 401k while continuing to provide the banking industry the ability to borrow money from the Fed (you) at almost no cost so they can loan it back to you at 24% or better.

At the Fluffington Post they call this an “aggressive new stimulus” package, a “double-barreled blast of stimulus”.

That’s funny.

The zombie banks are currently sitting on more wealth than they ever have. Trillions of bucks that they just aren’t loaning out. Remember TARP? The banks just park it back at the Fed or they buy up other banks and businesses with it. Or, this is good, they’re now going out in California and with the help of the state government, they’re forcing homeowners to sell if they happen to be declared “at risk” then they rent the homes back to the previous homeowners.

Nice huh?

You won’t see a dime of that “stimulus” and very few people actually think they will…

http://willyloman.wordpress.com/2012/09/13/qe%e2%88%9e-bernanke-to-shovel-more-of-your-money-to-banks-were-saved/

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