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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Sr K who wrote (120175)	9/8/2012 8:54:39 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Buying MBS is a disaster. First, they buy that through creating money out of thin air. So first consequence is a devaluation of our currency. Second, when they did it last time, they bought a lot of toxic assets at full face value, even though the market value was far less, because many of them were in default. This was great for the big banks, but it was paid for by the taxpayer. Buying MBS is nothing but a sop to the very wealthy in the hope that we get a trickle down effect. I thought Democrats hated trickle down? Then why do they love Bernanke's policies? They are the purest form of trickle down in the history of the US. I'm not for any more of any kind of stimulus. It's time to go back to capitalism. The bad debts need to be cleared and the unsustainable businesses need to go bankrupt. yes, it will be painful, but then we'll reset the economy for future growth and prosperity versus this neverending, walking-dead zombie economy that we've been saddled with. QE is a failure, regardless of which assets they buy with the newly printed digital currency.