Obama: I shot you in the head but really - I didn't mean to do it!

by The blogprof

Obama: I shot you in the head but really - I didn't mean to do it!: "

'Quantitative easing' in one picture

An update on my post from earlier this month: Good News: FED to buy $1 trillion for bonds with money we don't have to make economy look better than it really is. This is called 'quantitative easing.' Or as we call in in the real world 'printing money.' This of course has the effect of devaluing the dollar and bringing about hypoerinflation. But don't worry, because Obama says he doesn't mean to do it. From the AP via The Detroit News: Obama: Fed action not designed to weaken dollar. But it's going to and our community organizer-in-chief darned well knows it.

Staking his ground in the global fight over the world's major currencies, President Barack Obama today disputed claims that the U.S. was deliberately weakening the dollar while accusing China of manipulating its yuan.

Obama said the decision by the Federal Reserve to pump $600 billion into the U.S. economy was designed to give a boost to a slow recovery and address fears of deflation. Germany and other members of the Group of 20 of the largest economies meeting here this week have complained that the infusion of cash will devalue the dollar and hurt their exports to the United States.

When the Roman Empire was on its way to becoming the greatest that the world had ever seen up to that time, precious metals were used as currency. When Rome burned to the ground, its citizens were trading in useless slag. We're on that same trajectory. You want to know what quantitative easing is? It's this: Video: Why Don't They Just Call Quantitative Easing Printing Money - The Last Refuge Of Failed Economic Empires And Banana Republics?

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