As the outside world looks in, what do they think?
I’m pretty sure I have the answer, the majority don’t spend more than a second thinking about QE3, because they don’t understand how connected they are to it.
Understanding QE3 is easy. QE1 failed, QE2 failed, and most everyone knows that QE3 will fail as well, but will it help cover up the stink till December?
QE3 works directly as a wealth transfer from those who were stupid enough to save the US Dollar. You may not know that you are a saver, but if you paid into a union, corporate, or private pension fund, or towards Social Security, those dollars WILL inflate further. Going to the store each day, you know that inflation is real. How will a pension fund survive when it has no earnings, and pay outs to pensioners are made out of diminishing principle each month? Yes, there is no magic, no fairy dust..
What the FED is doing today with QE3 simply continues the theft of your money. It denies you any opportunity of making an interest rate, and forces you to take on high risk in search of >any< type of income. If you allow it to sit in a savings account, it is essentially being confiscated through the FED’s ‘planned’ inflation.
You need not ask if this is true, just look at the interest your savings account earned over the last 10 years. But do see the problem as being far larger than this fact alone!
America has simply decided to run it’s house on credit, and as you watch people in this Administration spend borrowed money on every sort of pipe dream, do consider that it >is< causing your pension fund to fail.
What is the FED thinking? The answer… they think no further than tomorrow.
What are you thinking? Well, you should be thinking about the ‘Catch 22’. The Prostitutes in Government who willfully sell our future in order to stay in power for another term.
Here’s the simple truth… the FED claims they do QE3 to allow easier home mortgages at ultra low interest. What this essentially does is throw a wrench into the gear works that attempt to correct a very bad situation.
There is no way these houses will be sold under the artificially low interest rate.. as the loans only allow people to live in the house until they or others discover they can’t afford it. Here’s how it will play out..
Your dollar is no longer real money, as it no longer earns any kind of interest, and you do remember not long ago, pension funds calculated your lump sum based on 7% earnings!
So what to do? I guess it’s better to ask what every one else will do shortly when they finally figure out they’ve been swindled, and that will be to flee the US dollar in any way possible.
And these homes they claim to have arranged mortgages for? Is it not obvious that the Government has effectively arranged to loan the money to people that really can’t afford the house? Isn’t this just more of the same?
What is that definition of insanity? To do over and over again something that proved not to work last time.. well that be your government 🙂 And now.. we’ll watch to see how many people will sleep walk to the polls and vote. They’ll vote for the easy road, the sweetest teat. All they vote for is a happy tomorrow… and of course, politicians offer just that.. the day after? Well, that’s your problem…
We should thank the greatest generation for caring enough to worry about our future. They sacrificed so much to give us what they did. And we need ask.. Did we teach our children to believe in magic?
The best you can do is scale back, live modestly, and pay off debts. It’s going to be a rough ride. Buy your garden tools now, before the cost of a hoe is more than the last TV you bought. And.. as you drift off to sleep tonight, Remember that your all caring Government put you on the hook to underwrite a lot of those pension funds…
But now we can see how this will all play out. The US Government has punished every type of desirable behavior.. savers punished, borrowers and even vagrants rewarded. And successful people are now targets of ridicule and disdain? Humans naturally flee from punishment, and shouldn’t we revisit that old definition of insanity? To save the US Dollar over and over again when it bears no interest and only inflates? Are you insane ?
And the typical response from my generation, and those after it? “Hey dude.. you trying to bum me out?
And I pause to think about my Senators.. especially Patty Murray, all knowing, all caring, cocksure she understands that taking care of every ill she sees today is all that matters. She reminds me of the lifeboat Captain who scuttles the boat as she has no clue the boat has a limit to what it can carry in a single trip.
But we need ask… What would Patty Murray and others who have no critical thinking skills do to us IF only they could alter our Constitution ? An Ayn Rand thought?
“…It cannot be repeated too often that the Constitution is a limitation on the government, not on private individuals—that it does not prescribe the conduct of private individuals, only the conduct of the government—that it is not a charter for government power, but a charter of the citizens’ protection against the government.” | The Virtue of Selfishness
Happy Constitution Day!”