Confessions Of A Money Printer
A surprising column appeared in The Wall Street Journal this week. Written by former Federal ReserveYou must Subscribe or log in to read the rest of this content.
A surprising column appeared in The Wall Street Journal this week. Written by former Federal ReserveYou must Subscribe or log in to read the rest of this content.
21 comments
Don’t forget that QE bails out the government as well. Our public debt is bad enough already, but imagine what it will look like if interest rates rise and the costs to service that debt start skyrocketing.
So, just askin, 4 TRILLION is worth spending to save the taxpayer a couple hundred billion, right?
That $4 Trillion was not “spent”, it was invested. Time will tell whether that was a prudent investment when it comes time to cash in those Treasury bonds, mortgage-backed securities, etc. So far, it is a net gain, no matter how slim.
Net of losses due to inflation.
Oh thomas. Anotber product of gubmint schools. For the sake of argument and ez mat I’m a gornna add datnumbeer timesa 5. Thats still 3 TRILLION DOLLARS IN DA RED CUZIN. $3,000,000,000,000.00. Now cuzin, dat ain’t a countin’ the udder GAWD DAMNED MF 16 TRILLION what my cillin gots to pays. #putz
That $4 Trillion was not “spent”, it was invested. … So far, it is a net gain, no matter how slim.
Then we should have “invested” $8 trillion and doubled the gain. Or $12 trillion and tripled it.
Oh what the Hell, let’s all get rich!
*With apologies to Buzz Lightyear*
” Quantitative Easing; To infinity and beyond!”
“The hookers and blow were an investment.”
I never said that nor do I believe it. Just want everyone to remember the other factors impacting the Fed’s decision of whether to taper.
All that printing will bring inflation, if we are lucky the inflation will just be bad (7%±), more than likely the inflation will be very bad or worse (10% to 16%). What looks like a maybe now will be a very evident wrong move later, it’s just a matter of time and that time is drawing closer.
Weimar Republic on line one.
Zimbabwe is still holding on line two.
Argentina & Venezuela on line 3 & 4, Bolivia told me “Son estupidos los Americanos!” and hung up.
You sum up the situation perfectly Tontobubbagoldstein…I just cant believe how stupid and suckered the american population really is!!! And these guys “lead” our world!!! They are perhaps the greediest and most in incompetant and selfish race of people to walk our earth in its entire world….and I cant believe the world swallows there bullshit about world peace..are they not the only country so far to have drop nuclear bombs on another race…not one but two……hypocritical dicks if you ask me
You can hold the lid on the pot ’til the crabs stop struggling…but if you continue to hold the lid on tightly, the results ain’t going to be pretty…and you’ll belatedly realize that there are larger forces at work than just keeping a dozen crabs from escaping rapidly heating water.
I do not like QE and I am not defending it. But Will is missing part of the story in talking just about bailing out Wall Street. The markets seemed surprised they did not start tapering at the end of September, because it seems the economic justification for the program is growing weaker. But at this point it is as much a political decision as an economic one because the government needs QE so it can keep borrowing more money.
They cannot keep doing this forever, though. There will have to be a reckoning. I know they are hoping robust growth will help hide the impact, but it seems less and less likely that any such growth will happen under Obama.
I know they are hoping robust growth will help hide the impact,…
TBG knows how he would bet and suspects you would bet the same way.
“I can only say: I’m sorry, America”
Apology not accepted dick.
“But I’ve come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time.”
I have a hard time believing you are that stupid. If that’s what you are trying to convince us of though, you are not even fit to work the counter of the SCDMV.
He knows the people with the pitch forks and tar&feathers will be on the move shortly and he is trying to get on “the good side” before that happens. This is probably the very start of the coming calamity, sharpen the knives and axes.
“QE2” ??? No, Titanic!
Please. Qe2 was like 15 min ago..
corporations are people, my friends.
Uh oh.