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Stimulus Likely Amid Election Heat-Up

August 24, 2012 by  

Stimulus Likely Amid Election Heat-Up
PHOTOS.COM

Get ready for another round of fiat money production courtesy of the Federal Reserve; the central bank says if economic data doesn’t turn around, it will fire up the presses “fairly soon.”

Recently released minutes from meetings of the Federal Open Market Committee indicate that Fed officials have concerns about slow growth and the state of European economic affairs.

The stimulus is not set in stone, but most analysts contend that it would not be unlikely for Americans to see a third round of quantitative easing (money printing) announced at the Fed meeting in September.

“Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery,” the minutes of the July 31-Aug. 1 FOMC meeting said.

Fed policymakers also cited conditions that “warrant exceptionally low levels for the federal funds rate at least through late 2014” as a reason to possibly extend the duration the main interest rate will remain near zero, the minutes show.

There has been widespread speculation that the Fed will act in the months prior to the Presidential election in order to create a temporary economic boom that would aid President Barack Obama in re-election. This is despite Fed Chairman Ben Bernanke’s assertion that the Federal Reserve makes no decisions based on political considerations.

Liberal economist Paul Krugman lambasted conservative pressure on the Fed earlier this month in a post on a New York Times blog, writing: “It really makes no sense — except in terms of politics. I really believe that we have reached a point where the Fed is afraid to do its job, for fear of being accused of helping Obama.”

Sam Rolley

Staff writer Sam Rolley began a career in journalism working for a small town newspaper while seeking a B.A. in English. After learning about many of the biases present in most modern newsrooms, Rolley became determined to find a position in journalism that would allow him to combat the unsavory image that the news industry has gained. He is dedicated to seeking the truth and exposing the lies disseminated by the mainstream media at the behest of their corporate masters, special interest groups and information gatekeepers.

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  • vigilant1946

    Get ready for an inflation rate of 100% per year by the end of 2013.

    • steve

      and other than make the national debt higher, what good will it do except the attempt to make obama look like he is accomplishing something.

  • JustAnotherJoe

    I remember reading up on some history, and how, when hyper-inflation hit Germany, food prices were doubling every 23 hours. People would go out and spend their entire pay check in one day, for fear that what bit of money they did have would be worth even less the next day, if anything. I can only wonder how bad things will get when welfare recipients are no longer able to get what they want, and when nicotine addicts cannot get their cigarettes. Lord help us all, then.

    • Brad in TX

      Scary thought is it not Joe? Lock and Load my friend!!!

      • mike

        Obviously you do not have enough brain power to understand the economy

  • FreedomFighter

    Here comes the IMPLOSION …

    Laus Deo
    Semper Fi

    • steve

      it’s what the people in control want.

  • Ted Crawford

    Saddly, the suffering endured by the German population during the Weimar Republic will be a GOAL, if we aren’t successful at removing Obama! The struggles of the Weimar Republic were brought on by external forces ( The Treaty of Versailles ), ours, if it happens, will be totally self-inflected!

    • al

      Actually our troubles are the result of many years of Progressive policies one on top of the other starting with Teddy Roosevelt, the original Progressive but not the worst one. That prize is reserved for FDR. He singlehandedly put us on this road to destruction with his FHA, Social Security and a complete alphabet of federal programs which never went out of business. This gave rise to LBJ and his Great Society. The FHA gave rise to ‘Neighborhood Red Lining’ by the lending instatutions and Carter countered that with the Community ReInvestment Act which forced local lending institutions to loan money, like it or not, to local consumers. This in the late 70s destroyed the Savings and Loan institutions and created the recession of the early 80s. Enter Clinton and Rubin in the early 90s. They decided the CRA worked so good that they modified the CRA and changed the target from the S and Ls to the National Banks. This Executive Order over the next sixteen years brought us to the present economic mess and Obama has done nothing except make the situation worse with another 5 trillion of National Debt.
      Should we reelect this Moron again or should we change horses? I am for a different nag….

  • Bob

    Obama is trying to buy this coming election !! thats what this stimulus will do,God help us,if this clown gets re-elected………..

    • eddie47d

      I see the “lock and load” crowd is stirring up trouble again. Can’t fix it so you destroy it with cheap talk. How about stimulating the job creators? How about stimulating the Republicans in signing a few jobs bills? How about stimulating the wealth on Wall Street instead of into their own pockets? Where’s the trickle down for jobs instead of all this trickling upward into the hands of a few. I hope there isn’t anymore government stimulus packages yet I see NOTHING coming from the other side. Clowns to the right and Clowns to the left = NOTHING.

      • Vicki

        Eddie47d writes:
        “How about stimulating the job creators?”

        Good idea. Lower taxes so the job creators have a reason to create jobs.

        Eddie47d: ” How about stimulating the Republicans in signing a few jobs bills?
        How about stimulating the wealth on Wall Street instead of into their own pockets?”

        Yes indeed. I am rather tired of big government stimulating wealth away (taxes and fees) from those who create it and into the pockets of those politicians (and their cronies) who run big government.

        Eddie47d: “Where’s the trickle down for jobs instead of all this trickling upward into the hands of a few.”

        A little tax here, a little fee there and pretty soon you have a really big trickle of wealth into the hands of the few that run big government.

        Tell the representatives to get out of the way. Remove regulations that interfere with private enterprise beyond the only real purpose of government with respect to commerce.

        That purpose is to “regulate commerce with foreign nations, and among the several states, and with the Indian tribes.” – Article 1, Section 8, Clause 3 of the U.S. Constitution.

        Now if we were to stop thinking of regulate as in to make law (a bad habit that was used to justify making gun prohibition laws too btw) and think of regulate as in to make work well we would see that all government needs to do is to keep the private business transactions honest.

        The very nature of economy involves so many variables that only a truly free market can work.

        Here are some more thoughts on the commerce clause
        http://law2.umkc.edu/faculty/projects/ftrials/conlaw/statecommerce.htm

      • s c

        Comrade ‘e,’ speaking for the anti-bend over and smile crowd, you still have your head rammed where it doesn’t belong. You, like so many of your brain-addled comrades, have N O clues concerning job creation. And yes, it needs to be said that neither does your W H ‘God.’
        WHO’S been in the W H for almost 4 YEARS, comrade? Bailouts and stimuli didn’t work. DON’T you get it YET? All those damned bailouts did was enrich Obummer’s bunkies. Obummer might have a weak idea what a stimulus is when dealing with lab rats (maybe), but he STILL doesn’t know SQUAT about economics or JOBS.
        Amerika won’t last long enough for him to LEARN, comrade. All you do is prove that ultraliberalism [utopianism] is an extreme mental disorder. You think you can have what you want (anyway you want it) by thinking about it. Airhead, that’s what most people call Mary Poppinsism. A grade school kid has more potential than a utopian – or your W H deity. Stop taking those damned drugs, comrade! Amerika can’t afford utopianism or people like y o u.

  • testament2012

    lock your wealth in with gold and silver now before the printing presses get warmed up. It’s not the value going up rather the dollar thats going down, dont trust the10% ratio in metals its not nearly enough to protect you. I read that a silver quarter can still buy two loaves of bread what can your dollar buy ?

    • Vicki

      I would recommend you also collect another valueable metal. Lead. It even comes in cute little brass containers. :)

      • cawmun cents

        it is also the cheapest insulator from radiation…….
        But what do I know?
        Apparently very little…..
        Cheers!
        -CC.

      • JimH

        Hi Vicki, I carry my precious metals,(brass, lead and a little copper) in the 30 round “wallet”. In case I want to go on a spending spree.

      • Vicki

        good choice. I like the hundred unit purse to but with the kitchen sink in there it gets really heavy :)

  • cawmun cents

    Throw paper at the condition….it’s bound to get better then,right?
    What kind of idiots are running this nation?
    We are in deep duke.
    Cheers!
    -CC.

    • http://Wildeyguns.com The Christian American

      These “idiots” have our “POWER OF ATTORNEY” to print bogus money that we are responsible for. We elect them and that’s the power they have. There federal Reserve NOTES. Notes means we’re responsible to repay, same as on our homes, cars, businesses or anything else we sign notes for.

  • old goat

    Zero FED & T-bill rates mean zero productive infrastructure replacement or growth – severe decline in jobs and wealth with runaway debt increase & inflation.

    “Hands in the treasury” banksters their will empty your SSI & other cash input, replace it with worthless IOUs into the banking system, loan “their in hand money” to China (etc.) @ 10% not subject to US inflation & make kick butt returns. Simultaneously US inflation of 10% to the moon will devalue those obligations to infinite zero (10 yrs?). Of course, that includes devaluising SSI & MEDICINAL to rat droppings, paper shreds, and an ammonia odor.

    Anyone want to bet on the improbability that repubs will prosecute anyone… (if successful). Maybe need to think… Sessions & Isa did indict Holder – can’t think of anyone who has earned more pen time than him… might take years to launder the dirty linen if we can find two or three righteous people, but… (Sodom & Gomorra come to mind).

  • http://Wildeyguns.com The Christian American

    It’s like drowning in a pool and adding more water to save yourself. First off, there’s nothing legitimate about the Federal Reserve. It was formed by men with money and influence with America’s crooked government. Stalin had said: “kill one man and it’s murder. Kill 100,000 and they’re statistics”. That’s what the Fed does, kills 100,000′s of people. Money, the medium of exchange, is only necessary when people can’t barter efficiently. Legitimate money is a commodity acceptable by all, like gold or silver. Paper money is suppose to be receipts for the commodity on deposit. It can be turned in for the commodity, gold or silver, at any time to a bank. The federal Reserve takes the people’s commodity and prints receipts WITHOUT any commodity backing it and calls them real money, which they are NOT. The people CANNOT redeem these phony receipts for gold or silver. By printing them and then “lending” them to the people, they get the people’s real wealth in return.

    As long as we are willing to play their game, more and more of our assets will fall into the hands of the Federal Reserve. They own so much of it, they can dictate terms to the people’s government.

    Look, if I walk into a car dealer and give him paper I printed in my basement and he gives me the car, who’s the winner. He got paper and I got the car. That’s EXACTLY what the Fed does. “Stimlus” is the Federal Reserve printing paper, distributing it to the people, and getting the people’s hard assets in return. With the Fed we use word inflation when more of these pieces of paper start floationg around. With you and I we use the word COUNTERFEITING. You CANNOT have a rational conversation about the Fed other than to discuss it’s criminal activities.

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