1.25-1.45 TRILLION borrowed and minted US Dollars that someone is going to have to pay for so the Feds can buy this bad debt!
The should put Franklin Raines and Barney Frank in the same cell for 10 years!
Fannie Mae and Freddie Mac assets: The Fed unveiled plans to buy up to an additional $750 billion of mortgage-backed securities backed by government-controlled entities such as Fannie Mae and Freddie Mac, on top of the $500 billion it already committed to purchasing. At the same time, the agency said it would as much as double--to up to $200 billion--its purchase of Fannie and Freddie debt. The moves will help to reduce Fannie and Freddie's financing costs, which should enable them to pass savings on to consumers in the form of lower interest rates. Today's announcement represents a significant expansion of the initial initiative announced last fall, which drove mortgage rates from 6.2 percent in mid-November to 5.2 percent in the week ending March 13, according to HSH.com
Hey! Anyone know where I can get one of those money printing machines? I only need it for an hour or so.
I have some inflation Deutschmarks that dad brought home from his European tour 1944-1945. Some of them are in denominations as high as a BILLION marks and they weren't enough to buy a loaf of bread. Is this what we are coming to here under the current admin and their idea to just print more dollars?
Printing more money is the quickest way to get the cash. Chinesse are beginning to voice concern over our credit worthiness. Their backers, the Saudis have probably had enough too.
Originally Posted by Bob Gutermuth
I like the line in the above article where it says, " the savings will be passed on to consumers". What a joke, these folks really think we are stupid.
You better keep it for more than an hour, because those bills you are printing are soon to be worthless!!!
Originally Posted by Martin
Last I checked, the Fed Chairman was not part of the administration.
I think he was appointed by a guy with the last name of Bush.
Here is an interesting take on it. Think what you want about Krugman. I find his blog to be very interesting reading.
Agreed, I also believe this same Bush guy is the one who started the massive deficit spending, ridiculous bailout programs, and inevitable changing of our system towards Socialism.
Originally Posted by Buzz
Didn't he also claim to be "a free market guy"?
Once inflation rears its ugly head this adminstration will begin with phase II...price controls.
We're doomed under Dear Leader and we're all sub-prime under this guy.
[QUOTE=Mr Booty;417660]Printing more money is the quickest way to get the cash. Chinesse are beginning to voice concern over our credit worthiness. Their backers, the Saudis have probably had enough too.
I like the line in the above article where it says, " the savings will be passed on to consumers". What a joke, these folks really think we are stupid.[/QUOTE]
I respectfully dissagree.......I truly think that THEY are THAT stupid!!
since its tax payer money and they just confiscated like 170 million shouldn't we be getting that back in the form of a check?