Archive for the ‘shared sacrifice’ Category

Downwards

Quantitative Easing II (or QEII), the pumping of $600,000,000,000 into the economy without any wealth creation, was, I think intended to get companies to spend the cash they are sitting on while they wait to see what the rules (taxes) will be before making any projections or planning how to use it. I’m quite sure that the knowledge their money will depreciate in purchasing power by 20% in the next few months will cause them to at least rethink their positions. Whether it will actually stimulate spending is less certain.

One thing is sure. It is going to infuriate anyone we owe, bondholders, those holding dollars, or that we have promised money. And as it trickles down to the general population and they notice everything is 20% higher there is going to be a lot of finger pointing going on in the political class. Hopefully it will cause that “screwy idea”/sarc of auditing the Federal Reserve to come to fruition. You do notice that the official announcement was held until after the election?

Time to review that Cloward-Piven strategy again.

Here are some links to “enjoy”/sarc:

Dollar at Risk of Crashing, Triggering Inflation

Brazil Ready to Retaliate for US Move in Currency War

U.S. dollar printing is huge risk -China

Germany Concerned About US Currency Moves

Fed bond move spurs backlash from Asia to Europe

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I know this is from last year, but has anything changed? Anything? I think there has been a change in that they have even less money. My general approach to government is to “Starve the Beast”, but with 43 reliable democrat electoral votes, I’m sure they believe that they will be bailed out by the populations of other states via the Federal Government.
California Treasurer Bill Lockyer testified at an informational hearing on reform on October 22, 2009.

Vodpod videos no longer available.

Governor Chris Christie responds to Marie Corfield, an elementary school teacher who stood up at a question-and-answer session with the governor and demanded to know how his reforms would help teachers since his budget cuts had resulted in so many lay-offs. Christie explained why so many teachers laid off in New Jersey. When the Governor called upon teachers to take one-year pay freeze and contribute 1.5% — one-and a half percent! — of their salaries to the cost of their health care (full-family medical, dental, and vision coverage, by the way), the union leaders said “No way. Not a penny.” Result: nearly a billion-dollar shortfall in the budget, which necessitated scads of lay offs. (Had Gov. Christie’s proposal been accepted, the state would have saved more than $700,000,000.) “So who’s really to blame?” he asked: the Governor or the intransigent teachers unions?


Governor Christie Schools a Teacher, posted with vodpod