Fed Reserve condemned for daring to seek job growth
Federal Reserve Board Chairman Ben Bernanke today announced another round of quantitative easing, the technical term for injecting more capital into the economy to lower interest rates and encourage growth.
The decision was widely expected, and before it was announced Republican members of Congress were already condemning it as a politically motivated effort to help the re-election bid of Barack Obama.
“It really is interesting that it is happening right now before an election,” said Rep. Raul Labrador (R-Idaho). “It is going to sow some growth in the economy, and the Obama administration is going to claim credit.”
“I am shocked, just shocked, that politics are going on in this city!” Rep. Tom McClintock (R-Calif.) said sarcastically.
“They are the ones who always say they want to remain independent. So they should consider, just how independent are they when they come out, only 50 days before the election, with this?” said Rep. Scott Garrett (R-N.J.).
The Fed has taken similar action twice before, in part to offset the refusal by Congress to inject more money into the economy through stimulus. “The Committee is concerned that, without further policy accommodation, economic growth might not be strong enough to generate sustained improvement in labor market conditions,” the official announcement read.
The reaction of GOP members of Congress is revealing, isn’t it? They acknowledge that the move is likely to put more Americans into jobs. But they nonetheless oppose it, condemning it as politically motivated, because they fear those steps might help President Obama.
Avoiding the second outcome is more important than achieving the first. Such is the state of patriotism.
– Jay Bookman
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736 comments Add your comment
josef
September 13th, 2012
4:51 pm
ooops
There’s Joseph PH…oh, well, Jefferson, my bad…
You libs
September 13th, 2012
4:51 pm
Mr_B
September 13th, 2012
4:44 pm
Why just the other day a friend of mine was standing behind Ben Bernanke in line at Whole Foods and……
http://www.youtube.com/watch?v=2UFc1pr2yUU&feature=g-all-c
0311/8541/5811/1811/1801
September 13th, 2012
4:51 pm
I sense some jealousy ……………………………
Steve Shamrock
September 13th, 2012
4:51 pm
RACE CARD ALERT…RACE CARD ALERT…
I think Jay played the race card at 4:33…
St Simons - (ab)original Georgian
September 13th, 2012
4:52 pm
we could give Mittens his indian name
that could be pretty nasty
Jm
September 13th, 2012
4:52 pm
Jay 4:24
On the last part I agree, though I don’t think they really believe that
Perhaps more relevant, absent the congress endorsed and presidential signed fiscal cliff, QE3 would not be necessary
So fundamentally the Fed is stepping into the breach
But it shouldn’t be. It should be doing it’s job, not congresses or the President’s. Bad policy is flowing all over the damn place.
curious
September 13th, 2012
4:53 pm
It’s said tax cuts will be offset by tax loopholes being closed.
Which loopholes are we talking about?
Granny Godzilla - Union Thugette
September 13th, 2012
4:53 pm
and it looks like Chicago kids will go back to school Monday…
they may even get textbooks!
josef
September 13th, 2012
4:53 pm
DDR
You know, we ought to put together our perfect-party guest list…we cant’t forget Moms and Sophie Tucker…
JamVet
September 13th, 2012
4:53 pm
ROMNEY HAS SAID…BECAUSE HE WILL OFFSET…
And Tricky Dick said he was not a crook.
BTW, your screaming does not make your point any more sensible or valid…
Keep Up the Good Fight!
September 13th, 2012
4:54 pm
curious, didn’t you hear… Romney said “which loopholes will be closed? You have to elect me to find out.”
Stephenson Billings
September 13th, 2012
4:54 pm
Obama is for trickle-down…. who knew?
Per George Will in the WaPo:
“Fed Chairman Ben Bernanke evidently thinks that driving up the stock market will quicken the animal spirits of the affluent 20 percent who own 93 percent of equities, and this “wealth effect” will spur economic activity, eventually benefiting others. So, the interest rates Barack Obama favors are a form of the trickle-down economics he execrates.”
scott
September 13th, 2012
4:55 pm
Jay, Your criticism of the Reps show just how clueless you really are. The effect of this QE will have no greater effect than the blip that the Stimulus Bill had. All we are doing is weakening the dollar and after all of the money has been stolen by the Wall Street traders and the banks from the Fed’s decision and we are right back where we are today, only more in-debt and even further in trouble, what will be the answer then? More QE? It is just sad that you are too ignorant or too in love with Obama to realize this is a bad thing.
Joe Hussein Mama
September 13th, 2012
4:55 pm
Jm — “Did Reagan criticize Carter for the Iran fiasco? Yep. Election year politics. Foreign policy not excluded.”
Nope. As has already been pointed out and established here earlier today, no, Reagan DID NOT.
Tom(Independent Viet Vet,USAF)
September 13th, 2012
4:55 pm
Jm@4:32 – I really do not think you should say “your boy Romney”. You do not want others to say “your boy Obama”, do you?? I do not think we should refer to either as”boy”, both are good decent men, just have different ideas on how to govern this country!
Granny Godzilla - Union Thugette
September 13th, 2012
4:55 pm
and one more thing
seems Fox has been spreading a false rumor about marines with no ammo in Libya
who’d a think it
Paul
September 13th, 2012
4:55 pm
“I sense some jealousy ……………………………”
Not at all, Scout. Just waiting for you to put your $$$ where your mouth is.
Paul
September 13th, 2012
4:56 pm
curious
“Which loopholes are we talking about?”
Romney can’t tell you.
It’s a secret.
Jay
September 13th, 2012
4:56 pm
Stephenson, I think Will is right to a degree, although the move should also help middle class consumers who refinance their homes or buy a new car, etc.
But yes, it does have a “trickle-down” aspect as well. That’s what we’re down to trying, given the refusal of Congress to act.
EJ Moosa
September 13th, 2012
4:56 pm
Why are they being condemned? Because their approach isn’t working.
You’d think with all of their education, they would be willing to step outside of their limited views after four years and entertain some other reason why drop growth has been falling.
Like the declining rate of year over year profit growth.
It’s gonna be a lousy year for job seekers in 2013, regardless of who wins.
And nothing the Fed does today will have any impact on hiring between now and November.
Meanwhile a mere 57% of businesses are doing better than they did one year ago, and the rate of year over year profit growth for all businesses is down to 6.99%(most recent quarter).
One year ago, we were at 15,68%.
And you wonder why the hiring has all but stopped.
curious
September 13th, 2012
4:57 pm
I know Romney was non-committal on tax loopholes that would be closed, but I figured some of our economically gifted posters could help educate some of us in advance.
Jm
September 13th, 2012
4:58 pm
Teacher 4:51
A. You’re 100% wrong
B. You have it backwards
C. You probably shouldn’t be proffering investment advice, especially since you don’t know what you’re talking about, but even if you did….
Rightwing Troll
September 13th, 2012
4:58 pm
“Any updates on MARTA ?”
Yeah, they’re sitting on a shelf right beside your list of 5 impeachable offenses that Obama has committed, and your list of reasons why a golden retriever will get better healthcare than you’re average US citizen after the ACA goes into effect… you share first.
JamVet
September 13th, 2012
4:58 pm
Jm, here’s another knee slapper that you’ll enjoy.
George said in his 2000 campaign that he was “going to clean up Wall Street”.
I think he meant to say he and his pals would clean up by closing their eyes and ears as to what was happening of Wall Street…
Tom Middleton
September 13th, 2012
4:58 pm
Oh sh*t, Rick Perry’s gonna be PO’d now.
josef
September 13th, 2012
4:59 pm
He-ne-ha:
Mitt’s Indian name…?
Wa’-do ga-nu-ga tsu-lot-sot-si
BTW like that new monniker…
EJ Moosa
September 13th, 2012
4:59 pm
“The reaction of GOP members of Congress is revealing, isn’t it? They acknowledge that the move is likely to put more Americans into jobs”
And if the members of the GOP believe that it is likely to add jobs they are just as wrong as Bernanke.
0311/8541/5811/1811/1801
September 13th, 2012
5:00 pm
http://www.youtube.com/watch?v=syV2LkGpQB0
Paul
September 13th, 2012
5:00 pm
Tom Middleton
Rick Perry was echoing Romney’s comments.
Even with all his time flying ‘attack airlifters’ the guy never did learn how to lead.
Pray for Texas.
Kamchak ~ Thug from the Steppes
September 13th, 2012
5:00 pm
George Will?
Is that the same George Will that came home to find all of his belongings on the front lawn with a note that read, “Take it somewhere else buster”, after his wife found out about his affair with his boss’s daughter?
That George Will?
Jay
September 13th, 2012
5:04 pm
Curious, if you close enough loopholes to make up for the lost revenue under Romney’s plan, you inevitably have to tackle those loopholes that benefit the middle class. That’s where the big money is.
And that is precisely why Romney refuses to talk details.
John Birch
September 13th, 2012
5:04 pm
I don’t think there is much dollar devaluing going on. The effects of QEx are largely offset by the slowdown in growth in China, resulting in them keeping their currency low as always, and Europe’s debt situation is worse than ours so the dollar is still valued. I think a better strategy would be some kind of tax penalty or incentive to get the companies that are doing well and hoarding cash to actually hire more workers.
Ewrin's cat
September 13th, 2012
5:04 pm
best i can tell Bernanke seems to think $2.6 trillion will create 2 million jobs…@ $1.3 million a job, what could go wrong?
JohnnyReb
September 13th, 2012
5:04 pm
There is no end to your spin, Jay.
The Fed is causing inflation/devaluation of assests. And, it’s not working, perhaps Ben thinks the third time will be the charm.
Jm
September 13th, 2012
5:04 pm
For all those that care:
QE3 will definitely kill bank net interest margins
It will, possibly, maybe, help out (reduce) losses / write offs
Net effect for banks: bad
0311/8541/5811/1811/1801
September 13th, 2012
5:04 pm
Oooops !
“Egypt Not an Ally? Obama Better Ask His State Dept.
Administration tries walking back president’s remark with ‘legal’ clarification of what is a US ‘ally’ … “
Tom Middleton
September 13th, 2012
5:04 pm
Will do, Paul. All in all Texas is a great state!!!!
EJ Moosa
September 13th, 2012
5:05 pm
“Curious, if you close enough loopholes to make up for the lost revenue under Romney’s plan, you inevitably have to tackle those loopholes that benefit the middle class. That’s where the big money is.”
Or you grow the economy larger. Because then you naturally have higher tax receipts.
Midori
September 13th, 2012
5:05 pm
Scout,
you’re starting to look desperate…….
Bernanke: No Specific Target for Bond Purchases – ABC News | urbandestruction.com
September 13th, 2012
5:06 pm
[...] to take more action, inflation-worried investors seek out goldWashington PostVanity Fair -Atlanta Journal Constitution (blog)all 3,286 news articles » This entry was posted in Environmental Earth Destruction. [...]
They BOTH suck
September 13th, 2012
5:06 pm
starting?
Rightwing Troll
September 13th, 2012
5:07 pm
“Or you grow the economy larger. Because then you naturally have higher tax receipts.”
So you support growing the economy with tax dollars? Isn’t that what the Fed action is about?
getalife
September 13th, 2012
5:07 pm
What happened to the real Americans thinking country first.
Where is the gop leadership to stand up to you cons?
romney is weak and pathetic.
He is not a leader.
Jm
September 13th, 2012
5:08 pm
“Curious, if you close enough loopholes to make up for the lost revenue under Romney’s plan, you inevitably have to tackle those loopholes that benefit the middle class. That’s where the big money is.”
Jay, only if you cut rates as much as he proposes. Which won’t happen. There are these people called democrats. He will compromise with them and find reasonable middle ground. He did it in MA. Will do it again.
Save America. Elect Romney.
Midori
September 13th, 2012
5:09 pm
LOL, Both.
I was trying to be generous
Jay
September 13th, 2012
5:10 pm
“Or you grow the economy larger. Because then you naturally have higher tax receipts.
Oh right. I forgot about all those surpluses under W…
Joe Hussein Mama
September 13th, 2012
5:10 pm
Moosa — “Or you grow the economy larger. Because then you naturally have higher tax receipts.”
Where’s the demand going to come from to grow the economy? Lower taxes don’t necessarily lead to economic growth any more than they necessarily lead to increases in hiring.
Lower taxes *might* kick-start demand, and then again, they might not. They certainly didn’t stimulate hiring over the long term.
EJ Moosa
September 13th, 2012
5:10 pm
For those with the courage, I suggest you read some contrarian opinions to the Fed actions today.
http://www.zerohedge.com/
0311/8541/5811/1811/1801
September 13th, 2012
5:12 pm
1) (NBC): “Why films and cartoons of Muhammad spark violence”
http://worldnews.nbcnews.com/_news/2012/09/13/13834703-why-films-and-cartoons-of-muhammad-spark-violence?lite
2) Now NBC, please do an article on the following:
“Why films and cartoons of Jesus do not spark violence”
3) Then some folks will be better able to choose which route they want to follow.
Rightwing Troll
September 13th, 2012
5:13 pm
“There are these people called democrats. He will compromise with them and find reasonable middle ground. ”
You should have your mouth washed out with soap… you said the “C” word…
I’m pretty sure there’s plenty of wingnuts receiving entitlements. Wingnuts may move in lockstep with Rush and the party of NO, but were Mittens to cut off their workmans comp and disablilty checks, I believe the party will become even more fractured…
“Keep your dirty government hands off my Medicare”
– Some random old guy wingnut at a tea bag rally
Paul
September 13th, 2012
5:13 pm
“Will do, Paul. All in all Texas is a great state!!!!”
Thanks, Tom, and yes, it is!
Paul
September 13th, 2012
5:13 pm
Hi Midori!!!
Cute as ever, I see!
Mark in mid-town
September 13th, 2012
5:13 pm
“GOP is gonna have to work on that talking point: “We are against the creation of jobs by the Fed or anybody else.”
Because trying to create jobs is, well, you know, “political”.
————————————————————————————————–
I don’t know if there is any political motive or not in what Bernanke has done. Regardless, let’s hope QE3 works better than QE1 and QE2 did. The logic of these policies, which for all intents and purposes creates money out of thin air, is that such faux money leads to increases in stock market valuations for mostly the very affluent and rich in the hope that this artificial wealth then filters or trickles down to the masses where it will then spur a real economic recovery. Since QE1 and QE2 failed to do that, no reason to expect any better out of QE3 and to possibly expect a lot worse.
Anyway, this is truly trickle down economics that Jay Bookman is supporting. The government creates money out of thin air and such money then floods the stock market where the gains go predominantly to the wealthy who are then supposed to sprinkle that money down to everyone else. Good luck with that.
Matti
September 13th, 2012
5:13 pm
JB: They acknowledge that the move is likely to put more Americans into jobs. But they nonetheless oppose it, condemning it as politically motivated, because they fear those steps might help President Obama.
They should welcome this because it helps fulfill the “jobs jobs jobs” promise they’ve ignored, thus freeing them up to spend more time on what they really care about: obsessing over the personal marital and reproductive practices of others.
getalife
September 13th, 2012
5:15 pm
He had to do it because the gop fights against jobs with obstruction
The obstruction for our President’s first term is costly and lost millions of jobs.
This is failed gop leadership that focused on getting our President like an enemy.
.
curious
September 13th, 2012
5:15 pm
I’m still anxiously awaiting for someone to list the tax loopholes to be closed.
Why is it, you can specify what taxes to be cut, yet can’t identify loopholes?
Jm
September 13th, 2012
5:15 pm
Troll 5:13
Paul
September 13th, 2012
5:15 pm
Scout 5:12
About an hour ago Shepard Smith on Fox News related reports of Muslims staging counterdemonstrations against the fanatics in Libya. Some carrying signs to the effect of “that isn’t Islam.”
Try again.
Thulsa Doom
September 13th, 2012
5:16 pm
“Don’t tell me, Thulsa. Tell those Republican congressmen. They’re the ones who seem frightened by that prospect.”- Jay
Jay,
Come on Jay. Seems to me you are clearly distorting the picture of what has been a long standing disagreement between Ds and Rs regarding monetary policy.
This is nothing more than the age old debate concerning conflicting goals of federal reserve policy- should we pursue long term price stability should as the ultimate goal or other policies such as full employment which brings into play goals which can conflict with each other.
To me long term price stability should be the ultimate goal, full employment and everything else comes into line when you have long term pricing stability.
And if you don’t believe in long term price stability as the sole mandate then perhaps we should go toward a hierarchical mandate with room for shorter term goals similar to the bank of England with price stability still as its top goal but leaving room for shorter term goals such as employment.
In any event a policy aimed solely at full employment is going to introduce asset bubbles again in the future and get us right back into the same mess we just went through. Hence the Republicans advocate price stability as the Fed mandate. It may come at the short term expense of full employment but in the longer term employment will be better.
Many on here may not fully understand monetary policy but you do. And I think you should know better than to pawn this off as Republicans being anti-employment. Its quite a bit more complicated than that.
JamVet
September 13th, 2012
5:17 pm
All in all Texas is a great state!!!!
Tom and paul, my older brother from Omaha came to visit me this summer and the conversation turned to the Lone Star State and he too is a BIG fan of it and the people.
Most of my time in Tejas was spent in boot camp in San Antonio, so my memories of the place aren’t all that great! (grin)
But I do like a lot of the music that comes from there! Going way back…
http://www.youtube.com/watch?v=3O09J2a_izw
weetamoe
September 13th, 2012
5:17 pm
The fed in its pro Obama zeal has declared war on the middle class. They have just devalued the dollar, punished savers, and spurred the inevitable rise of inflation. Anyone out there who remembers having a passbook savings account as a kid should understand the *want my country back* plea.
Jm
September 13th, 2012
5:17 pm
Curious 5:15 politically unpopular
Mr_B
September 13th, 2012
5:18 pm
Wa’-do ga-nu-ga tsu-lot-sot-si
Hey, josef, sagen Sie mir auf deutch, bitte.
DebbieDoRight - A DoRight Woman
September 13th, 2012
5:18 pm
good lord josef!! i almost burnt my house down while laughing at your post!!
I’m trying to make red beans and rice to celebrate Grand’s b-day; since he loved r,b&r; so i put the beans, (which were dry) into this pot thats supposed to cook stuff really fast, (I FORGOT that part — about cooking fast), and totally forgot about it!
My bro-n-law came into my room screeching really fast in Portuguese, which i didn’t understand ’cause he was talking too fast, saying that the the pot was on fire!
I had cornbread in the stove, forgot about that too. Burned.
Rice in the rice cooker, BURNED the rice.
And just basically screwed up everything/kitchen. My bro-n-law is digging a hole in the backyard to dump our dinner. He’s muttering something about McDonald’s.
Oh well. anyway, the reason why i said all of the above, is because -
I BLAME YOU JOSEF!!
Better you than my poor cooking skills…….
Midori
September 13th, 2012
5:18 pm
Hi Paul
Jefferson
September 13th, 2012
5:18 pm
Josef, not you I was typing of.
Full of love, hate, happiness, crap – guess what I was thinking.
CJ
September 13th, 2012
5:19 pm
Criticizing the Fed for implementing monetary policy to create jobs is like criticizing birds for flying or fish for swimming. That is why the Fed exists; it is their legal mandate; it is what they do–
“The goals of monetary policy are spelled out in the Federal Reserve Act, which specifies that the Board of Governors and the Federal Open Market Committee should seek ‘to promote effectively the goals of maximum employment,, stable prices, and moderate long-term interest rates.’ Stable prices in the long run are a precondition for maximum sustainable output growth and employment as well as moderate long-term interest rates.”
http://federalreserve.gov/pf/pdf/pf_2.pdf
These faux outrages never end. What have these guys decided to get their based ginned up about this week? The American president not being subservient enough to Israel’s immature prime minister. The Fed doing their jobs, and now Obama not attending non-existent intelligence meetings. It’s unbelievable.
weetamoe
September 13th, 2012
5:21 pm
Why does right wing troll hate homosexuals? He is using that vulgar epithet again.
Joe Hussein Mama
September 13th, 2012
5:21 pm
D. DoRight — “I’m trying to make red beans and rice to celebrate Grand’s b-day; since he loved r,b&r; so i put the beans, (which were dry) into this pot thats supposed to cook stuff really fast, (I FORGOT that part — about cooking fast), and totally forgot about it!”
Properly prepared RB&R requires, among other things, LOTS OF TIME. IMO, there is no substitute for that particular ingredient.
Ain’t no such thing as good, fast-cooking risotto, and ain’t no such thing as good, fast-cooking RB&R, either.
Matti
September 13th, 2012
5:22 pm
I wandered next door to the Island of Misfit Toys. DANG! Can we take up a collection to get that young man a tool sharpener for his shed? Bless their hearts.
Kamchak ~ Thug from the Steppes
September 13th, 2012
5:22 pm
Where’s the demand going to come from to grow the economy? Lower taxes don’t necessarily lead to economic growth any more than they necessarily lead to increases in hiring.
The recent increase in Gallup’s economic confidence numbers combined with RBC’s reported increase in consumer confidence, will have more to do with creating demand.
And this confidence is causing heads to explode.
They BOTH suck
September 13th, 2012
5:23 pm
jam
http://www.youtube.com/watch?v=mV2TnkE7n8s&feature=relmfu
lynnie gal
September 13th, 2012
5:23 pm
So, Republican are admitting that they deliberately wrecked the economy and fought against job creation so that Obama would fail. Well, it looks like they’re going to fail. Poetic justice.
Mr_B
September 13th, 2012
5:23 pm
2) Now NBC, please do an article on the following:
“Why films and cartoons of Jesus do not spark violence”
Well, that one’s pretty easy Scout. For the most part, there aren’t any. At least not any produced by fanatical Islamists, who hold Jesus in very high regard as a prophet in his own right.
Doggone/GA
September 13th, 2012
5:23 pm
“starting?”
Beat me to it!
Ewrin's cat
September 13th, 2012
5:24 pm
JHM – 22mins of stirring for risotto…ever try orzo as an alternative? It’s pretty good.
Joe Hussein Mama
September 13th, 2012
5:24 pm
Moosa — “For those with the courage, I suggest you read some contrarian opinions to the Fed actions today.”
I will read them and give them some serious consideration. Thank you for posting that link.
Just Proud To Be Here
September 13th, 2012
5:26 pm
getalife you gotta stop the insanity. Name one job that Repub obstructionism killed or did not create. Obama had Congress to himself the first 2 years and the best he could do was a pork filled stimulus that didn’t work. Obama’s failure is America’s blessing because he is an empty suit with NO PLAN to get us back…even if Bill says it on a commercial.
Joe Hussein Mama
September 13th, 2012
5:27 pm
E. Cat — “JHM – 22mins of stirring for risotto…ever try orzo as an alternative? It’s pretty good.”
We’ve tried it, but the texture of risotto just appeals to us both more. My wife likes to make a mushroom risotto with about four or five different kinds of finely minced mushrooms in the fall; it is fantastic with roasted or grilled pork or just about any kind of sausages.
Just as an aside, is your handle misspelled of late?
JamVet
September 13th, 2012
5:27 pm
He did it in MA. Will do it again.
That was the former reasonable, moderate, centrist Romney. Who had a wonderful opportunity to bring the GOP back to a far saner, middle course. Instead he has gone completely the opposite direction.
And I believe that this new “severely conservative” (LOL!) Romney has ruined his legacy in the process.
Too many nuts in the Republican Party with too clout and he did not have the you know whats to stand up to them.
The man is utterly unprincipled and unfit to lead.
And his disgraceful lie regarding the Libyan embassy murders is just more evidence…
paulo977
September 13th, 2012
5:27 pm
Jay….But opposing it because it might help Obama and because it’s “political” is just dumb.
_______________________________________________
Oh no “dumb” does not really describe it . It is much more deliberately vicious and has nothing to do with the interest of the American people at heart !!!!
Just Proud To Be Here
September 13th, 2012
5:28 pm
weetamoe, Jay only gets indignant about sexual vulgarity when it’s a Conservative.
They BOTH suck
September 13th, 2012
5:28 pm
Just Proud @ 5:26
But the bigger problem and you seem unable to see it, is that you guys put up Romney
Doggone/GA
September 13th, 2012
5:28 pm
“Obama had Congress to himself the first 2 years ”
First rule of the conned: NEVER let a good lie die
Just Proud To Be Here
September 13th, 2012
5:29 pm
I believe that while Romney is far from ideal for me personally, I would vote for just about anybody to get Obama out of office before he destroys this country economically and morally. Just a blogger’s opinion that is every bit as valid as any other.
Erwin's cat
September 13th, 2012
5:29 pm
JHM – LOL…I never caught that…upgraded the PC a few days ago
Thanks
orzo works better with some recipes than others, but I think I’ll be shopping for shrooms this evening and start my 22mins
Just Proud To Be Here
September 13th, 2012
5:30 pm
You are right, you don’t need a Democratic Congress when you bribe and intidimate to get your legislation passed. If he was going to take that approach, at least do it on something that benefits the country.
They BOTH suck
September 13th, 2012
5:31 pm
Jam
I read one post where someone said that Romney wasn’t a politician and she thought that is what people wanted……..
Guess all those “flip flops” were not for political gain………. (sarc)
hahahahah
Even Obama has turned a few cartwheels on issues.
Romney “flip flops” so much he gets motion sickness and has to take Dramamine every morning.
EJ Moosa
September 13th, 2012
5:31 pm
No problem Joe. I am glad you are taking the time to look. Check out a guy named Reggie Middleton, who does a lot of writing there. He has some interesting insights.
This thing called the American economy has been sick for some time. The medicine from the Fed has failed to work. And it has failed for a reason.
And all they can do is offer more of the same medicine and just hope for a different outcome. But it just isn’t happening.
It’s time some folks that have been championing the Fed’s actions to step back and honestly take another look at what is going on.
As well as what the cost of this medicine is going to be down the road, especially if we have to pay for it even though it turned out just to be a placebo.
Matti
September 13th, 2012
5:31 pm
“For those with the courage,…”
Does it matter what I think of the Fed’s actions? Does the Fed answer to me or care what I think? If I try really really hard, can I have any influence whatsoever on what the Fed does, if I understood this topic with enough depth to comment intelligently?
NOT being sarcastic this time; asking in earnest. I try to save my energy for things I can affect in some way. Is this one of them?
getalife
September 13th, 2012
5:32 pm
“Did Mitt Romney kill his own chances of becoming president with his reaction to the violence in Egypt and Libya?” Cafferty.
Yes.
getalife
September 13th, 2012
5:34 pm
“getalife you gotta stop”
No and I stopped reading.
Jay
September 13th, 2012
5:35 pm
Thulsa, as CJ points out, the debate is settled for now as a matter of law. It is the statutory duty of the Federal Reserve to pursue both max employment and a stable currency, and it is legally obligated to act accordingly. If you or the Republicans have a problem with that, change the law.
But with unemployment at more than 8 percent, and with no inflationary pressure in sight for reasons explained in part by John Birch, this is an eminently reasonable step to take. Conservatives have been screaming for several years now that “inflation is here inflation is here” when in reality inflation over the last 12 months has been 1.4 percent. For the last few months — March through July — the CPI has actually fallen slightly.
Redneck Convert (R--and proud of it)
September 13th, 2012
5:36 pm
Well, this Bernanke guy might of at least had the decency to let the economy go into the tank till Romney was elected. Then he could cram in all the money he wanted.
But no, this Republican Fed chairman had to go and help Obama out of his fix. We need to kick him out of the party. He’s much worse than a RINO. He’s a Trader to the American Way.
Now when the economy bucks up a teeny bit people will run to the polls and punch the button for Obama. How sucky is that, huh? And the rest of us God-fearing Americans will log on here on Nov. 7 and see that #1 Foxy Lady has told us to Suck It.
We need a 2nd Amenment Solution here right now! I can’t hardly stand it.
Vast Right Wing Conspiracy (aka "Knuckle-Dragger")
September 13th, 2012
5:36 pm
This will not create more jobs, it did not the first two times around. It will push the Dow up some, by devaluing the dollar. When companies will pay their debt back with dollars worth considerably less than at the time they borrowed, the firms’ values must increase.
Things are looking increasingly desperate for president kardashian. I can not wait to see what the October surprise is – it will have to be off the charts, a real masterpiece.
JamVet
September 13th, 2012
5:38 pm
I would vote for just about anybody to get Obama out of office…
Fail.
And why the past two GOP primaries have been little more that a comedy of the absurd.
I ask you, why have you neocons nominated back to back milquetoasts as nominees for the White House? And according to he very words of a whole bunch of “real” Republicans, two “RINOs”.
You’ve had nearly twenty rabidly “conservative” primary entrants in the past two election cycles and you can’t nominate even ONE of them???
What does that tell you about the state of the GOP?
I’ll tell you – dysfunctional.
Welcome to the Occupation
September 13th, 2012
5:39 pm
GOP is gonna have to work on that talking point: “We are against the creation of jobs by the Fed or anybody else.”
NOBODY gonna create jobs in OUR utopia — other than our capitalist taskmasters of course!
pogo
September 13th, 2012
5:39 pm
It is becoming apparent that Obama’s use of cannabis in his youth must have been pretty heavy (afterall, he was in a “stoners” club of his own making). As with all of those that are heavily involved with the weed, he is more infactuated with coming up with ideas and talking about them than he is with actually trying to do the hard work that it takes to make them happen. Kind of like the burn-out “hippies” from the 60’s. It is documented again and again by Obama’s followers and his critics that he is bored with “details” but as somebody once said, “God is in the details”. Obama is not a man of action. He is a man of words and ideas, both of which won’t buy you a cup of coffee unless they are acted upon and the work and effort is made to try to make them reality. Negotiation is the milk-blood of American politics and every successful president, regardless of which party the congress is comprised of while they are serving, has been willing to negotiate and to give and take. But not Obama. The adoration that was annointed upon Obama in 2008 (as is still happening) by his fawning press did him a grave disservice. He came to believe that his words and his ideas were omnipotent and so he surrounded himself with people that would re-enforce this belief (Vallerie Jarrett, David Axlerod, Rham Emmanuel and Ploufe). Emmanuel quickly found out that Vallerie was an idiot. So did Daley. And both were gone in short order. Obama only wants people around him that will stoke his ego no matter how stupid their suggestion. To Obama, it is all about Obama and the nation does not matter.
getalife
September 13th, 2012
5:41 pm
pogo,
Weed?
That is funny
Thanks, I needed a laugh.
JamVet
September 13th, 2012
5:42 pm
BOTH, yes I saw that. It was the parallel universe denizen @-@.
So being governor of a major state and running for the White House twice is not considered being a politician, huh?
Otay…
One of my favorite Texas musicians (Beaumont )…
http://www.youtube.com/watch?v=hz5PYxEHb6o