Yep, I am a double double agent... In fact, I am really Janet Yellen & Ben Bernanke secret love child, but let's keep this our little secret, shall we?
Former Fed QE guy Confesses, Apologizes: "I Can Only Say: I'm Sorry, America."
- Thread starter Tsing Tao
- Start date
Really? Is this your considered opinion? Do you have some way of actually demonstrating the truth of your rather bizarre statements?
I should have specified that QE is helping the current administration and its cronies save face politically...but beyond that, feel free to explain how QE is helping the economy in any practical sense. I'd love to hear your bizarre rationale.
Pretty much... They may be thinking along the lines of "if nobody notices how bad things really are maybe they'll continue doing business as usual" and so far it's working.
The stock market appears to have gained value this year, but the truth is that the apparent gains in the market are reflecting the actual level that the US dollar has been devalued by QE. The value of the assets themselves remain relatively unchanged. The whole "too big to fail" concept that underpins the mentality behind QE is the epitome of fail.
Food for thought, would Martin be able to feed his family if the Fed never bailed out his industry?
Is it possible that Martin's defense of this industry is almost entirely predicated on the fact he draws a salary courtesy of the Fed?
Just some things to ponder...
Is it possible that Martin's defense of this industry is almost entirely predicated on the fact he draws a salary courtesy of the Fed?
Just some things to ponder...
The Fed did NOT bail out my industry. The Fed bailed out the banks. One could argue that my industry wouldn't exist w/o the banks, but, in that regard, we're not alone, I daresay.Quote from Maverick74:
Food for thought, would Martin be able to feed his family if the Fed never bailed out his industry?
Is it possible that Martin's defense of this industry is almost entirely predicated on the fact he draws a salary courtesy of the Fed?
Just some things to ponder...
Furthermore, I'm not entirely clear how I was defending a particular "industry" here. And, one thing for sure, I DON'T draw a salary courtesy of the Fed.
Some things to ponder...
Well, before we get to that, I wanted to make sure that I understood a couple of things that you mentioned. Specifically, QE has no value because "it's not like a factory that produces goods". Then you mentioned that "money has no value and represents debt". Are these accurate and do you believe in these statements?
Quote from Martinghoul:
The Fed did NOT bail out my industry. The Fed bailed out the banks. One could argue that my industry wouldn't exist w/o the banks, but, in that regard, we're not alone, I daresay.
Furthermore, I'm not entirely clear how I was defending a particular "industry" here. And, one thing for sure, I DON'T draw a salary courtesy of the Fed.
Some things to ponder...
the only thing that matter is do you believe the markets would be so high today without QE? the idea of QE is to kill the bond market so people are forced into riskier assets.
i think top people in all industries draw salaries today because of the fed. they set up a system where you are forced to be in the stock market or leave cash in the bank. what happens if they destroy the dollar? there is no safe place for your money anymore. why would anyone hire someone or grow a business when the fed tells you we will pump money into the economy until you do it. the system makes no sense. also the businesses crying about taxes have been given 100x better of a deal from the fed already. the idea that Washington is broken is not a shock but come on if someone wanted to spend money and grow a business they would of did it already.
if you work for a business that is a publicly traded stock you draw a salary from the fed.
So are you saying then that pretty much all businesses and their employees have benefited from Fed's QE?