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376 Comments
- Mankind121, on 03/18/2009, -4/+158At this point, whats another trillion? Prepare for the super-inflation next decade.
- duggitt4u, on 03/18/2009, -5/+133Out of thin air...unbelievable!
- Demand911Truth, on 03/19/2009, -7/+134Banking institutions are more dangerous to our liberties than standing armies.
-Thomas Jefferson
End the Fed. - inactive, on 03/18/2009, -8/+129Someone has to stop these bastards.
- Landthatilove, on 03/19/2009, -4/+84They must have some bad-assed printers.
- Egoist, on 03/19/2009, -6/+84I'm curious, before the election, every comment section on every news site was filled with Obama supporters.
Where are they now? - GovernmentSp00k, on 03/19/2009, -5/+79"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." ~Henry Ford
- goes211, on 03/19/2009, -4/+56I think if we could skip to the end of this story we would find that this is not going to end well.
When this thing goes ***** up we know who should be the "first against the wall when the revolution comes"! - CCoburn3, on 03/19/2009, -11/+61Oh, they are still here. Once school is over for the day, you'll get dugg down by a bunch of kids who think they know it all. Of course it IS quieter here during spring break...
- zacharytelschow, on 03/19/2009, -5/+55Here's what you need to know:
"The Dow Jones industrial average, which had been down about 50 points just before the announcement, jumped immediately and ended the day up almost 91 points at 7,486.58."
Later followed by...
"But there were also clear indications that the Fed was taking risks that could dilute the value of the dollar and set the stage for future inflation."
Stagflation here we come. People who had been calling Obama Carter II are looking more prophetic by the day. - sultanknish, on 03/19/2009, -4/+54I think they mean suck another trillion out of the US economy as debt
- inactive, on 03/19/2009, -13/+50It's okay, as long as Obama keeps making NCAA brackets and Leno appearances to distract the common man the crumbling of the US will go forward uninhibited!
- CCoburn3, on 03/19/2009, -9/+45We should see an up-tick in economic activity because of this new infusion of cash. But it's like those old movies where the gangsters gave the horse a shot that caused it to run faster than ever before, but killed the horse in the process.
The Fed has pumped another trillion of funny money into the system. Those with any brains understand that this means that dollars are worth less today than yesterday. But since it takes awhile for prices to adjust, they will go out and turn their dollars into things (i.e., they will buy things before the prices rise). The smart ones will buy things that will help them survive the coming economic collapse.
The article said that the stock market reacted with enthusiasm. I think that it is more likely that people are trying their best to get out of the dollar and invest in something that might maintain its value as the dollar falls. Stocks are a bad choice, but people are nervous about owning gold because they know the government will seize it when the going gets really rough in the next few months. Again, the smartest money will invest in a farm and farming implements.
The graphs of the money supply are truly alarming. It's going to get really bad really soon. Inflation on the Wiemar or Zimbabwe scale are not out of the question. And it's only just beginning since the US government is over $70 trillion in debt (using GAAP).
The United States is dead. It was killed by politicians in Washington trying to buy votes with the treasury. But let's not blame them exclusively. WE let it happen. - Madrigalian, on 03/19/2009, -16/+50ok, ok... your turn. Go ahead and roll, if you pass go we'll give you $200...
Welcome to Obamanation. The new USSA. Change we can make believe in. - Egoist, on 03/19/2009, -9/+39I logged in from a long absence just to point out that you are by far, the most ignorant person here on Digg. Time after time you attempt to demonstrate your understanding of a subject only to achieve the polar opposite -- that you're a complete and utter moron who is incapable of doing anything but apologize for Obama while he slowly destroys our country.
Massive inflation, as what will happen by pumping $3.6 trillion in non-existent money is going to further devalue the Dollar as we're already seeing. In 3 days the Dollar has dropped 5 cents to the Euro. What you're referring to in your post has to do with the Dollar's value adjusting itself back to where it should be as we come out of a massive economic bubble. No one will want to invest in a currency that is so unstable that it can lose 40% of its value in 6 months, and with Obama's actions, the value is going to continue to degrade and will hasten the end of its safe-haven status.
I am absolutely amazed that you have no capability to realize how little you understand about the world. - oboshoe, on 03/19/2009, -1/+30Zimbabwe was unavailable for comment.
- OnAsideNote, on 03/19/2009, -2/+29Why do they allways use the word "Pump" when descibing
the Devalue of the dollars in my pocket ? ? ? ?
More like a syphon to my wallet - brandozilla, on 03/19/2009, -3/+30Yay here comes stagflation.
- NorthMass, on 03/19/2009, -11/+37Ron Paul 2012
Someone has to stop this insane spending spree Bush and Obama have taken us on. - ggfobster, on 03/19/2009, -3/+27The Fed needs to be audited by Congress. Enough, with secrecy and back door deals to other banks.
- delumen, on 03/19/2009, -3/+26The FED creates money out of thin air and we have to work for it, yeah sure... there's nothing wrong with that.
- zacharytelschow, on 03/19/2009, -2/+24"Having already reduced the key interest rate it controls nearly to zero, the central bank has increasingly turned to alternatives like buying securities as a way of getting more dollars into the economy, a tactic that amounts to creating vast new sums of money out of thin air."
It was the second paragraph. They're not taking on new debt, they're printing more money (lots more), deflating every other dollar out there (which I'm sure our debt holders love). - mparker21311, on 03/19/2009, -3/+21Apathy maybe? Some are content that their guy won.
Me, on the other hand, am outraged. Have been outraged since 2001 through the GWB years (high school years).
BTW, I'm one of those Obama supporters who recently abandoned ship. I think I needed this to happen for me to finally seal the deal of any two party support I could possibly muster.
Libertarian party is the only party I will vote for. I just hope they don't nominate another Bob Barr. - zacharytelschow, on 03/19/2009, -10/+27There's a good number on digg with a much more comprehensive economic understanding than a lot of those in Congress. The results speak for themselves.
- Ubermann, on 03/19/2009, -1/+18And the media is like: YAYYYY they're buying bonds!!
Yeah ass clowns, with money they printed in the back room. Idiots. - oboshoe, on 03/19/2009, -1/+17Followed by the "don't worry, Obama will make it ok" brigade.
- inactive, on 03/19/2009, -2/+18And out of our pockets.
- bruuks, on 03/19/2009, -7/+22Massive Inflation in 3....2....1....
- drmangrum, on 03/19/2009, -3/+18<tinfoil hat>
Looks like they're paving the way for the Amero.
</tinfoil hat>
Seriously, my conspiracy theory senses are tingling.
And I'm reminded of: http://www.youtube.com/watch?v=XBSY3S0Dpd0 - CColtManM, on 03/19/2009, -6/+21I want this article to be a good example of Digg. If this had been an article about Bush and 1.2 trillion, you minions would be all over it.
Instead, silence from the majority.
I hope you all learn, in the end, they all screw us. - spritom, on 03/19/2009, -5/+19So over and above the (large) budget, we have
* $1.2 trillion (Bush & Congress last year)
* $1.2 trillion (Obama & Congress in the past 2 months)
* $1.2 trillion (new announcement today) another link on same story - http://hosted.ap.org/dynamic/stories/F/FED_INTERES ...
What about the healthcare trillion? And the "green" trillion? I know quite a few people that are cheering on the administration and are excited to see the "green" trillion spent. - inactive, on 03/19/2009, -5/+19I believe we are living in a matrix of lies.
- macmcraeart, on 03/19/2009, -3/+17next decade? more like next week.
- tekgnos, on 03/19/2009, -2/+15I'm with you on all fronts buddy. Obama had me mesmerized for a couple weeks, but then it become obvious when he got into office that whatever he said to get elected was going right out the window when get got into power. Just seeing the stimulus bill go through ended it all for me. The guy is a trojan horse and snuck into office on a platform of false hopes.
Libertarian is where it is at. We need another Ron Paul type on the republican ticket. - Barackalypse, on 03/19/2009, -5/+18In totally unrelated news, Gold futures are up for some mysterious reason.
- nathorne, on 03/19/2009, -0/+13Stagflation is an economic term. It's when BOTH the rate of unemployment and inflation rise. Usually they are inversely related (a rise in unemployment is followed by a decrease in inflation). The economy is in serious trouble when both inflation and unemployment go up. Less people are making money, and the money they are making is worth less.
- Hardataq, on 03/19/2009, -3/+15YES WE CAN!:
-Spend over one billion dollars an hour!
-Brainwash a country full of morons to elect a worse president than it's last!
-POST VIDYAS ON THE YOOTOOB!
-Care more about college basketball than the problems at hand! - inactive, on 03/19/2009, -1/+13Hidden tax.
- fallingdamage, on 03/19/2009, -1/+13all these trillions...
at what point will i finally start getting some checks in the mail too? I could use a nice bonus for all my hard tax paying work I do.
I mean, if im going to be the one paying it off, cant I at least spend some of it? - these3remain, on 03/19/2009, -5/+17Thank-you for taking the time to post your comment; unfortunately it is equally incompetent morons who are dictating our economic policies. TaoOfBill might be advising them - frightening thought.
- championpixel, on 03/19/2009, -1/+12The National Debt is frickin way out of hand!!! REAL TIME National Debt http://www.usdebtclock.org
- twistaspliff, on 03/19/2009, -3/+14At the job fairs or welfare lines with everyone else.
- BESTenemy, on 03/19/2009, -1/+11Better advise - don't put all of your eggs into one basket. Buy gold, silver, foreign currencies, food, ammo, medication, alcohol, cigarettes and anything else that could serve as money.
- inactive, on 03/19/2009, -3/+13HELL throw it all in on one roll of the dice ...Vegas Style babe
- dchaosdx, on 03/19/2009, -10/+201.) I'll be the first prick to say it and get dugg down: http://www.zeitgeistmovie.com/
2.) Oh, and buying debt with debt? It's nothing new. We're on our way to becoming the next Zimbabwe. - zacharytelschow, on 03/19/2009, -5/+15Unbelievable may be the most overused word in the English language. I certainly believe that they would do something this bone headed. On top of all the other stupid things they've done, I'm frankly surprised they didn't rev up the presses sooner. After all, that way they don't have to legitimately raise taxes or take on new debt.
- nseb, on 03/19/2009, -7/+17FFFFFFFFFFFFFFUUUUUUUUUUUUUUUUUUUUUU
- BESTenemy, on 03/19/2009, -3/+12Japan tried printing to fight their deflationary recession. They're still waiting for that hyperinflation... 20 years later.
- motters, on 03/19/2009, -7/+16Can you say "worthless currency" ?
Can you say "hyperinflation" ? -
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