Ben Bernanke is Single-Handedly Propping Up the Obama Administration
Obama will run out of fake money soon.
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This priming of the pump that Bernanke continues to do. There are a number of things that puzzle me by it, but the first thing is, Bernanke and the Fed. The report that they gave yesterday before announcing that they’re gonna continue all of this printing of money, was that the economy is unstable, that the economy is actually weak. Yet everywhere I look in the media, I keep hearing about a roaring recovery. I keep hearing about, “Why aren’t there any new jobs, because, look! The economy’s coming back, and profits are soaring.”
We just had that story in the Drive-By Media yesterday about how wonderful the economy’s doing. Well, here comes the chairman of the Federal Reserve saying, “Oh, no it’s not, and if we don’t continue to pump $1 trillion a year into it, it’s gonna plunge.” So this economy is being artificially propped up. Now, here’s the thing about this, folks. Everything in life can be habit forming. So the Federal Reserve is essentially printing $1 trillion every year.
Now, technically, they’re not printing $1 trillion, and they are not adding this to the money supply. This money is… It’s a very complicated, circuitous thing to try to explain. It ends up in the stock market, for all intents and purposes. As such, gas prices are rising and the dollar is tanking. That means higher inflation. There are some consumer benefits to this, though. Mortgage rates are gonna come down a little bit because interest rates are being depressed as well.
So interest rates are coming down, because people are invested, like, in their 401(k)s. If you have anything left in your 401(k), whatever’s left in your 401(k) is invested in the stock market. The stock market is doing quite well because of all of this, so your 401(k) is probably doing okay. That is the kind of thing that if the general population learns it, “Oh, man I kind of love this QE infinity, whatever it is.” But that’s the thing: It’s artificial. There isn’t any real growth that is behind all of this increase in the money supply.