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QE3: Bernanke acknowledges failure of Obamanomics
In the previous post, our reader ILoveCapitalism details the pitfalls of the Federal Reserve’s policy of “quantitative easing”. Other economists and pundits have wondered about its political implications, including the Weekly Standard’s William Kristol who called the move “a foolish step, but one that’s also a remarkable acknowledgment of the ineffectiveness of three and a half years of Obama economic policies.”
He’s not the only one to note how President Obama’s ostensible economic ally Federal Reserve Chairman Ben Bernanke just gave Mitt Romney, in the words of the American Enterprise Institute’s James Pethokoukis, a “huge gift“. He imagines Romney saying that the federal reserve chief. . .
. . . finally admitted what most folks outside Washington already knew: The economy, three years into a supposed recovery, remains in terrible shape and is unlikely to get much better anytime soon.
In fact, Bernanke said there’s such little hope for improvement that he and the Fed are going to embark on a radical new experiment in money printing in order to try and do something, anything, to boost growth and create jobs.
In short, the Fed chairman’s move clearly suggested Obamanomics isn’t working today and is unlikely to work any better tomorrow. We cannot stay the course. And since Washington won’t act, he will.
ronnie r
September 16th, 2012
now, if he could acknowledge the REST of the
FAILURES of the Obamanation
Peter Robinson interviewed Dr. Sowell and asked,” Why McCain?”
Dr. Sowell,”I prefer DISASTER to CATASTROPHY”
sorry to go O/T, but WTF:
http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/articles/../2012/09/freedom_fighters_meet_on_911.html
[...]
The first group of speakers included Nelly Braginsky, who lost her son in 9/11; NYS Senator David Storobin (R); Cliff Kincaid, president of Accuracy in Media; David Yerushalmi of the American Law for American Courts (the lawyer who has been representing the organization); and Pamela Geller and Robert Spencer. Each clearly made the case that “freedom-fighters” in the U.S. are now battling the first phase of an Islamic caliphate — the condemnation and banning of any criticism of Islam and the introduction of sharia law into the American justice system.
The war for freedom of speech in Australia and the U.K. was discussed by Debbie Robinson, President of Q Society in Australia; Tommy Robinson and Kevin Carroll of the English Defense League (EDL); and George Igler of the Discourse Institute in the U.K. It was astonishing to listen to both Robinson and Carroll share how their small town in England is one of many communities where Muslims have been moving in over the last twenty years; the Muslims have grown so large in numbers and influence that both the police and the Brits are intimidated, and many have left.
They made the argument that Americans should not fall for the idea that this can’t possibly happen in the U.S. with a Constitution that guarantees freedom of speech and religion. This is what the British people also thought, Britain being the home of the Magna Carta. How wrong they were.
Mr. Carroll dramatically held up two British newspapers with headlines that are testimony to the degree of Muslim influence the English are living under today and the loss of their individual freedoms. They read: NO RIGHT TO WEAR A CROSS AT WORK and SPEAK UP FOR CHRISTIANTY PM TELLS ARCHBISHOP, both front-page stories in the U.K.’s Daily Express.
These brave gents refuse to leave their homes in spite of the fact that their country is now in the second stage of Islamic transformation.
After a lovely buffet, the audience heard from Babu Suseelan, a Hindu leader, a human rights activist, a university professor, a psychologist, the director of the Indian American Intellectuals Forum in NY, and an outspoken opponent against the “Mosque at Ground Zero.” He was followed by “The Voice of Coptic Christians,” Ashraf Rameleh, who spoke of the suffering and killing of Coptic Christians living under Islamic rule…being killed because of their religion. The third speaker was the Israeli author and Bar Ilan University lecturer Dr. Mordechai Kedar, who told how his being a Jew and meeting with the Turkish Islamic scholar Adnan Oktar has led to Muslims campaigning against and discrediting Mr. Oktar as a Muslim because he meets with Jews.
[...]
MAJ Mike
September 16th, 2012
“Failure” was exactly my comment on a previous thread.
Its a heavy burden being right all the time, but I bear it gladly.
Dr. Tar
September 16th, 2012
China has to be so pissed that Bernanke is back to devaluing the US$ faster than they can lend them to us.
Tim
September 16th, 2012
I’m not getting the “failure” part of Obamanomics.
BO and his socialist ilk HATE America and are attempting irreparable fiscal and financial damage. Bernanke is not trying to save the country; he is greasing the decline to a descent into a Weimar / Zimbabwe sort of inflationary model.
As Dr. Tar notes, the Chinese are gonna be supremely upset, maybe to the point of attempting to take what they consider theirs.
FreeMan & Sarah on Vacation
September 16th, 2012
It is such a failure, he is going to try it again.
jus sayin yo
September 16th, 2012
like geller and spencer, apparently this guy is talking his life in his hands as well:
http://www.americanthinker.com/printpage/?url=http://www.americanthinker.com/articles/../2012/09/sixteen_reasons_why_islam_is_not_the_religion_of_peace.html
Sixteen Reasons Why Islam Is Not the Religion of Peace
By James Arlandson
Islam is not the religion of peace. The following sixteen reasons, all sourced from the original sacred documents (the Quran and Traditions), classical law, and history, tell us why.
Each item in the list has one or more back-up articles. Readers should click on them to find out that the points come right out of original Islam and are not invented out of thin air.
[...]
Maudie N Mandeville
September 16th, 2012
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong … somebody else can have my job.
I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises. … I say after eight years of this Administration we have just as much unemployment as when we started. … And an enormous debt to boot.”
Henry Morgenthau, Jr.-FDR’s Treasury Secretary
Billy Fuster
September 17th, 2012
THIS is voodoo economics.