Bill Gross Warns QE3 Is Coming In The Form Of "Operation Twist" For The 2 Year

But there are buyers. Indeed, QE1 and 2 was undertaken when the market for t-bills was the largest in history. So what's your point.

No, I actually read the Biege Book (well, read summaries) (squidward googles furiously, beige book beige book)

Ah, that meme. I love it when Tea Partiers tell other people what words to use. I guess when you have no argument on the merits you want to make sure nobody else notices.

 

Yep, since the income of working class people stagnated or fell suring the GOP occupation, normal people had to go into debt to pay their medical bills and send their kids to college.

You have identified the problem and didn't even realize it!

 

Oh, so the problem wasn't that they went into debt?

It was that they were somehow forced to go into debt?

 

If you want to get medical care and send your kid to college, yep.

But I sense you're really want to express the conservative meme that working people went into debt to buy Jetskis. Come on, out with it. I love that counterfactual meme. It's so loonie.

Or are you saying the American economy can no longer provide health care and education to tens of millions of its hardworking citizens? If that's the case, time to change the economic system! Capitalism has failed! Is that your position?

 

corporatism has failed, and you support the very system that propagates it.
Congratulations, you join the ranks of the millions of mindless drones, looking to their abusers for relief.

 

they went into debt to buy McMansions, third cars for their kids and vacations in Disney.

 

Sending your kids to college is not a right.

Imo, it's usually a colossal waste of money (unless you want to be something that absolutely requires post-secondary education - doctors, nurses, engineers, lawyers, etc.).

I went to university for business and I learned FAR, FAR more 'on the streets' then I ever did in school.

Look at Greenspan, Bernanke, Geithner and Paulson?

They have university degrees from THE BEST institutions and they are clearly economic ignoramuses as they ALL completely (publicly) missed the housing crash. Some of them even helped engineer it.

I would not trust ANY OF THEM to run a corner store - let alone a national economy.

 

The reason I broke with my leftist roots is that the progressive left has very selective thinking when it comes to understanding the truth of power. They are like the woman who always picks a boyfriend who will beat her, except that when it comes to political power, the sort of people who seek it are very rarely the types to not abuse it. Even when you get someone who is not an abuser, they create more power structures which must be filled with abusers. The answer is to stop relying on political power to fulfill an agenda.

 

Who said it was? It's just what civilized nations do and growting economies require. So it's clear you want an uneducated and shrinking economy. Which of course I already knew.

Yes, yes, thanks for the knownothingism.

Oh heavens I love this meme. I love it how the Tea Party revels in the fact that they're uneducated. By the way, I can tell.

Another element of Tea Partyism, the fear and hatred of education and educated people. It must suck to be on the wrong side of history.

 

Ah that stupid Tea party meme.

God any evidence, because I do rebutting this nonsense.

 

Content and fact free.

I love the Tea Party!

 

good for you, I don't .

 

QE1 purchased lots of agency debt from the banks books. Nobody wanted that crap, and it is still worth crap. QE2 was designed to suppress long term bond rates as demand was weak.

 

so we didn't have a debt based housing bubble, and lots of goodies purchased with "equity" loans ? Do tell.

 

Still no evidence? What "goodies" -- health care and education.

Got ANY statistics or just more silly emptyheaded Tea Party memes.

 

Funny how someone resorts to questioning his opposites intelligence when his arguements become so thin and insecure. Know what I mean Landru?

 

No, it was intended to avoid a deflating dollar, which were on the brink of thanks to the market evangelist policies of Bush and the deregulaton crew.

But nice try.

 

It is odd that squid keeps repeating the Tea Party meme that working folk bought "goodies" with debt, without being able to cite one scrape of evidence.

What's with that form of nonfactual thinking?

 

Then prove to me using only links to unbiased sources - I am not interested in just opinions - that you have a better chance to get rich in America in business if you have a degree in business then if you do not?

Prove to me that successfully running your own business requires a degree in business to do so successfully?

Billionaires like Michael Dell, Richard Branson, Bill Gates and Steve Jobs all became stinking rich without a degree. And I can give you many more names if you wish.

I say again, total economic ignoramuses like Greenspan, Geithner, Paulson and Bernanke have degrees up the ying yang - and it helped them not at all obviously.

You cannot learn business smarts and common sense in a class room - you have to learn it 'on the streets'; in real life.

That is why Paul Krugman often doesn't get it either - he has NEVER been in the private sector in his life. He does not have a clue how it works. It is obvious in reading most of his words.

 

Pssst: that's a different question. Getting personally rich isn't directly related to productivity, as the growing income gap shows. Workers continue to become more productive, but all the wealth is being kept by owners, due to bad public policy that favors business over labor.

Nice try though, changing the subject.

Why would I do that. The issue is productivity not "successfully" running a business.

Yep it really helps to have millionaire parents.

And I could show how 50% of the wealthiest people in the US inherited their wealth, but it's not really the topic. The topic is how does an economy become more productive, and hence produce more real goods and services and hence how living standards increase. Getting personally rich is mostly unrelated to that. Indeed, the rich in the US mostly become rich by squeezing down wages and hence reducing living standards.

But inadvertently you really have highlighted the real issue: market evangelist Tea party types like you think the goal of an economy is to make a few people fabulously rich, while everybody else has a lower living standard. Rational thoughtful people understand the purpose of an economy is to increase living standards for everybody, by increasing the production of real goods and services, which is done by increasing productivity.

 

The point of QE2 was to artificially stimulate the stock market.

From Ben Bernanke:

'The FOMC intends to buy an additional $600 billion of longer-term Treasury securities by mid-2011 and will continue to reinvest repayments of principal on its holdings of securities, as it has been doing since August.

This approach eased financial conditions in the past and, so far, looks to be effective again. Stock prices rose and long-term interest rates fell when investors began to anticipate the most recent action. Easier financial conditions will promote economic growth. For example, lower mortgage rates will make housing more affordable and allow more homeowners to refinance. Lower corporate bond rates will encourage investment. And higher stock prices will boost consumer wealth and help increase confidence, which can also spur spending. Increased spending will lead to higher incomes and profits that, in a virtuous circle, will further support economic expansion.'

http://www.washingtonpost.com/wp-dyn/content/article/2010/11/03/AR2010110307372.html?nav=hcmoduletmv

 

So you do not have any proof.

Noted.

That is not what I think and I will thank you to not put words in my mouth in the future.


Have a more 'thoughtful' day.

 

What's funny is the quote proves my point, and you just don't get it.

Thanks for the quote -- as Benacke says, it to boost consumer confidence and hence consumption and hence avoid deflation.

 

You're the one claiming that success in business is equivalent to productivity inceases, so the burden's on you.

I love how Tea Partiers just can't seem to understand they have to actually support their crazy views with facts.

 

You are welcome.

But he said NOTHING about QE2's purpose was avoiding deflation. He may have thought it - but he never said it...as you just typed that he did.

You made that up.


And your credibility takes another hit.


Have a nice day.