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Politics : President Barack Obama
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To: RMF who wrote (50104)2/6/2009 11:14:49 PM
From: LLCF  Read Replies (2) of 149317
 
IMHO there are several very sad facts:

<The FED is talking about buying our debt, which is essentially the U.S. buying debt from itself.>

1.) Yes, the fed will monitize whatever they have to in order to keep liquidity... they have already said they would buy not only government securites (bills note bonds, whatever) BUT corporate bonds, stocks, and even alluded to buying real estate. This is not a democratic or republican issue, it is the state of current economic belief... that the cause of the depth and length of the "great depression" was lack of fed action.
2.) This stimulus fight is all bulls&*t. What we are going to see would have even the hardest core republican drawing up some sort of regulation to get folks back to work. We just haven't plummeted far enough yet and so these blowhards are putting on their little show. They (ok maybe a couple wouldn't... Ron Paul perhaps) would eventually (rightly or wrongly) do what the dems did on the war (cave in) rather than being labled a grinch or heartless "Mr. Potter" type.
3.) Even a freakin squirrel knows to put away nuts for the winter. You save (fatten up, collect nuts) when times are good and things are growing, and you use your savings (run a deficit) in the winter. Sadly BOTH PARTIES are stupider than the squirrel out in my back yard.
4.) The fact that nobody saved in the summer doesn't mean anyone is going to want to starve in the winter. Now is obviously the time to run a deficit.
5.) Given the above, I pitty the fool holding dollars. The rest of the world should be pissing all over this dollar rally. The US may gain credibility abroad with it's foreign policy (which it will desparately need) as it's economic image is destined for a big fall along with the dollar. This is ALREADY A DONE DEAL... thinking there is "something that can be done" about it now is like the guy facing triple by-pass after decades of bodily neglect and abuse... it typical lame "linear thinking" that you see in the daily media. Like on Fox News the other day "when does this recession become Obaba's recession". LOL... Yea, like oil moving from $3 to $30 under Nixon/Ford became "Carter's malaise" by the popular media.
6.) All you can do now is wait, and try and help unemployed folks out as cost effectively as you can.

DAK
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