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Discussion in 'Politics' started by saturneptune, Sep 13, 2012.
Do you think action by the Fed this afternoon will help the Obama campaign?
No, since neither QE1 or 2 worked.
No, because interest rates have been rock bottom for months, even years. If you are not going to buy or refinance a house at 3.75%, you're not going to do it at 3.625%.
No, because businesses don't hire people because interest rates are low, they hire because there is increased demand for their goods and/or services.
No, because if businesses aren't borrowing money at a prime rate of 3.25%, as it is now, they will not borrow if it stays at 3.25% (which it will.)
This is more of Obama's government trickle down economics whereby he prints money and hopes that it will trickle down to the masses. After it is seen that nothing has changed, Romney will be able to say the Fed has shot their entire load of ammunition and it didn't work. There is nothing left for Obama to do.
At the news conference with Bernake, he claimed he is not influenced by either candidate. He has served through Democrat and Republican administrations. The reason I posed the question was really not an idea of a long term help to the economy. The election is seven weeks from next Tuesday. Sometimes there is a short term upswing in numbers, such as the stock market averages and unemployment. The timing seems very suspicious to me.
If it does, which I don't think it will, the trouble with the embassies in the Mideast could offset it.
If Americans will read the financial experts (did you know that one man's "expert" is another man's amateur?) they will find that this is just another nail in our financial coffin. Crap will likely hit the fan in '13 regardless of who wins the presidency. "Payday someday" is not far off.
That's my optimistic projection- :smilewinkgrin:
Stock market has gotten the bounce off the announcement today. There will be no more stock market bounce from QE3.
Unemployment will continue to stagnate. Ironically, Obama may benefit from the unemployment rate going below 8% but only because more people quit looking for work and are no longer officially counted among the unemployed.
The purpose of #1 and #2 was to make the rich, richer and the poor,poorer. They worked as planned and so will #3.
No! But one of these days inflation is going to break out.
I am very surprised that it has not already. By this time in other recoveries we have been through in our life, I would have thought that 2012 would have been higher inflation and interest rates. Do you remember that last two years of the Carter years, both interest rates and inflation? I bought the house I still live in around mid 1980. We paid 50K for the house. I had a 20K downpayment, and financed 30K. The interest rate was 15% variable!!! Another fine example of Democrats being for the working man.