The Federal Reserve’s policy-setting panel began a crucial two-day meeting Tuesday, poised to cast aside its long-held reluctance to micro-manage the economy in a bid to avoid a lost decade of growth.
The central bank’s open market committee (FOMC) is expected to approve massive stimulus spending not seen since the depths of the economic crisis.
At the conclusion of the meeting Wednesday, the Fed is expected to announce it will resume the large-scale purchase of long-term US bonds — essentially printing billions of dollars — in the hope of boosting a weak recovery.
I wonder if this actually happens if it’ll show up on the MSM.
Funny how the Fed has tried things very similar to this before and it hasn’t worked. It didn’t work the time before that, either. It’s so funny how these allegedly intelligent people keep doing the same thing, thinking it will yield different results.
The BIG problem here is they’re essentially loaning money to themselves—at least, if I understand this whole thing correctly. Usually, they loan money they create from nothing to banks. Again, that’s assuming I understand this correctly. This means they’ll be able to loan more and profit more.
Whether we’re voting for political leaders who we pretend care for our interests or use money that we pretend has actual value, we are living in a virtual virtual reality.
Kinda scary when you realize this is the other side of the looking glass.
Forgot to say: found via: CoalSpeaker.com