Is The Fed Intending to Buy an Election for Obama?
July 17, 2012
For all apparent purposes, it seems that The Federal Reserve may be in the process of buying an election for President Obama. With a long string of his economic failures to Obama’s credit, could a QE3 be in the works right before the election, luring people to vote for him blindly? Remember his first campaign slogan was “Hope & Change.” It was his ability to smooth talk people and this slogan that helped him to pocket that election, among other things. In order to win now, though, he needs to artificially make the economy look like it is on the upturn. The only way to achieve that by any measure on the short term, would be to pump more money into the system. Although this has not been working up and unto this point, except on the short term, the short term is really all the campaign needs, since we are now just shy of 4 months before the election. This artificial stimulus would and could easily make his lies more believable and appear that the President ‘s decisions are making a “positive” difference. Now, mind you, nothing in the job’s market changes with this kind of stimulus, or at least that has thus far been the case with the previous stimulus efforts. What no one bothers to tell “the people,” is that the government is not in the business of creating jobs. The private sector is what creates jobs.
Back to the possible QE3 that could be in the works being urged on by The Federal Reserve. This could be the case according to The Examiner.
“Sen. Chuck Schumer, D-N.Y., exhorted Federal Reserve Chairman Ben Bernanke to stimulate the economy before November through some form of quantitative easing or other monetary policy, which Bernanke said could create jobs.
“Despite two false starts, we’re having a much rougher time than we ever imagined getting unemployment down,” Schumer told the Senate Banking Committee. “So get to work, Mr. Chairman.” Schumer said Bernanke needed to stimulate the economy because Congress refuses — “maybe after November we will,” he opined.
“We will act in an apolitical, non-partisan manner to do what is necessary for the economy,” Bernanke replied. “We have said we are willing to take further action,” he added, saying “it’s very important that we see sustained improvement in the labor market.”
Well, the labor market certainly does need something, but these decisions won’t create jobs, according to historic precedent. Getting out the way with excessive regulation and burdensome taxation would make a huge difference in the scope and landscape of the current job climate and labor market. But continuing simply to throw more money at a problem, doesn’t make for good sense or good “cents.”
Each and every month since the current President took office, the job numbers have continued to hover around 8.0 to 8.2, and the economy has continued to have a stagnant growth. Let’s also remember that under this President’s administration we have for the first time, in history, lost our triple “A” credit rating. We have, also, for the first time seen multiple cities file for bankruptcy. Ask yourself this: ”Can America stand or even survive four more years of what we have playing out right now?”
May God continue to bless The United States of America!!!
Annuit Coeptis! ~ Amen