<http://scottystarnes.wordpress.com/author/scottystarnes/> Taxpayers...Grab Your Wallets...The Federal Reserve is about to spend $500 Billion to purchase their Debt<http://scottystarnes.wordpress.com/2010/11/01/taxpayers-grab-your-wallets-the-federal-reserve-is-about-to-spend-500-billion-to-purchase-their-debt/> *Scotty Starnes <http://scottystarnes.wordpress.com/author/scottystarnes/>*| November 1, 2010 at 5:00 PM | Tags: Ben Bernanke <http://scottystarnes.wordpress.com/tag/ben-bernanke/>, buying debt<http://scottystarnes.wordpress.com/tag/buying-debt/>, deficit <http://scottystarnes.wordpress.com/tag/deficit/>, government buying debt <http://scottystarnes.wordpress.com/tag/government-buying-debt/>, Keynesian Economics <http://scottystarnes.wordpress.com/tag/keynesian-economics/>, mortgage-backed securities<http://scottystarnes.wordpress.com/tag/mortgage-backed-securities/>, purchasing debt <http://scottystarnes.wordpress.com/tag/purchasing-debt/>, The Federal Reserve<http://scottystarnes.wordpress.com/tag/the-federal-reserve/>| Categories: Uncategorized <http://scottystarnes.wordpress.com/category/uncategorized/> | URL: http://wp.me/pvnFC-3kF
Here they go again. First Ben Bernanke promised that the Federal Reserve would not buy debt. Then he purchased almost $2 trillion dollars of debt. It was supposed to stimulate the economy and help lower unemployment. How did that work out for the taxpayers? Like Obama's $862 billion stimulus, it failed. Now Bernanke is looking to 'pump' $500 billion into the economy through buying more debt...to kickstart the economy and lower unemployment. How do you think this will turn out. If almost $2 trillion didn't work, what will a wimpy $500 billion do? Pretty much the same thing. Keynesian economics have been proven, throughout history, to be an absolute failure, yet progressive politicians continue their "let government spend" philosophy at the expense of the taxpayers. >From >Bloomberg.com<http://www.bloomberg.com/news/2010-11-01/fed-likely-to-announce-500-billion-of-purchases-survey-shows.html> : *The Federal Reserve will probably begin a new round of unconventional monetary easing this week by announcing a plan to buy at least $500 billion of long-term securities, according to economists surveyed by Bloomberg News. * Policy makers meeting tomorrow and Nov. 3 will restart a program of securities purchases to spur growth, reduce unemployment and increase inflation, said 53 of 56 economists surveyed last week. Twenty-nine estimated the Fed will pledge to buy $500 billion or more, while another seven predicted $50 billion to $100 billion in monthly purchases without a specified total. The remainder said the Fed would buy up to $500 billion or didn’t quantify their forecast. The varied responses reflect differences among Fed officials<http://www.federalreserve.gov/>over the total amount of purchases needed to bolster the recovery. *Policy makers, pursuing unprecedented stimulus, have cut the benchmark rate almost to zero and bought $1.7 trillion in securities without generating growth fast enough to bring down unemployment from near a 26-year high.* “There’s no silver bullet right now,” and central bankers have “very few options left in terms of lowering interest rates,” said John Silvia<http://search.bloomberg.com/search?q=John%20Silvia&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&partialfields=-wnnis:NOAVSYND&lr=-lang_ja>, chief economist at Wells Fargo Securities LLC in Charlotte, North Carolina. *He predicted $500 billion of Treasury and mortgage-backed securities purchases over the next six months.* Continue reading>>><http://www.bloomberg.com/news/2010-11-01/fed-likely-to-announce-500-billion-of-purchases-survey-shows.html> Add a comment to this post<http://scottystarnes.wordpress.com/2010/11/01/taxpayers-grab-your-wallets-the-federal-reserve-is-about-to-spend-500-billion-to-purchase-their-debt/#respond> <http://feeds.wordpress.com/1.0/gocomments/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/godelicious/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/gofacebook/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/gotwitter/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/gostumble/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/godigg/scottystarnes.wordpress.com/12813/> <http://feeds.wordpress.com/1.0/goreddit/scottystarnes.wordpress.com/12813/> [image: WordPress] WordPress.com <http://wordpress.com/> | Thanks for flying with WordPress! Manage Subscriptions<http://subscribe.wordpress.com/?key=5d39acfd19218362d540a3fc3dc3315d&email=baconlard%40gmail.com>| Unsubscribe<http://subscribe.wordpress.com/?key=5d39acfd19218362d540a3fc3dc3315d&email=baconlard%40gmail.com&b=u0KUD4y2OmqFeW%5Dp_Qqg%2F7kf5wN_2Cyo3dhzl4nZB>| Express yourself. Start a blog. <http://wordpress.com/signup/?ref=email> *Trouble clicking? Copy and paste this URL into your browser:* http://subscribe.wordpress.com -- Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more.
