…play video games, and worry about a measly $165,000 million bonus package for AIG employees who are saving the company billions of dollars.
Can you say hyperinflation? We have basically just printed one trillion dollars over night, is that not crazy? I’ve heard the FED Chair Ben Bernanke talk about this before, about how they will start raising interest rates just as, or before the economy starts getting better so as to keep inflation under control. I would say that they are going to need some perfect timing. And like Glenn Beck said, I hope that they succeed, for all of our sakes.
jbranstetter04
Fed to pump nearly $1.2 trillion into the financial system
WASHINGTON — The Federal Reserve made it clear Wednesday that it will do whatever it takes to end the worst U.S. downturn since the Great Depression, announcing new plans to pump nearly $1.2 trillion into the financial system, including a historic commitment to buy up to $300 billion in longer-term Treasury securities.
As part of its unexpectedly aggressive plan, the Fed also committed to hold a key interest rate essentially at zero “for an extended period” and to buy up to another $850 billion in mortgage-backed securities and debt. The actions could quickly translate into lower borrowing costs for home buyers, homeowners and businesses — and that, in turn, could help get the stalled economy moving again.
The Dow Jones industrial average surged 91 points, to 7487, on news of the Fed’s actions. Interest rates on Treasuries plummeted, with 10-year notes posting the biggest one-day move in nearly 50 years. The U.S. dollar sank against other currencies, however, as traders worried about the long-term implications of the policies, including possible inflation.
Nevertheless, most experts applauded the Fed. “When you have a forest fire, gradualism is not a good idea,” said Richard Hoey, chief economist at Dreyfus. “The aggressiveness of the Fed’s action is consistent with the view that they understand the risks and have the power to act. This is not Hamlet deciding what to do.”
Fed actions
What the Fed will do:
•Buy up to $300 billion in longer-term Treasury securities during the next six months. The move, which follows similar efforts in Britain and Japan, is designed to bring down longer-term interest rates that influence business and consumer borrowing.
•Buy up to another $750 billion in mortgage-backed securities issued by mortgage-finance giants Fannie Mae and Freddie Mac, which are in government conservatorship. The Fed has already committed to buy $500 billion in mortgage-backed securities, bringing planned purchases to $1.25 trillion. The Fed will also double the amount of Fannie and Freddie debt it plans to buy to $200 billion. The move is significant, given that Fannie and Freddie now back about 70% of home mortgages made in this country. About $1.4 trillion in mortgages were issued last year.
•Possibly expand the range of collateral the Fed will accept under a recently launched program to spur student loan, auto, credit card, small business, commercial real estate and other lending. The Fed and Treasury Department have said that they hope to eventually spur up to $1 trillion in lending under the so-called Term Asset-Backed Loan Facility.
The Fed’s medicine worked almost immediately. The 10-year Treasury bond yield dropped 0.51 of a percentage point, to 2.50%, a plunge that left money managers stunned. “It’s the biggest one-day move in my career, and I started in 1978,” says Bob Auwaerter, bond manager at the Vanguard Group. The bellwether note’s yield fell the most since 1962, according to Bloomberg News.
That could prompt what analysts expect will be the biggest
http://www.usatoday.com/money/economy/2009-03-18-fed-interest-rates_N.htm
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March 30th, 2010 at 8:09 pm
OK, Family meeting …
OK, Family meeting folks, need to cut cost, for starters bare bone essentials only, canceling all insurance policies (frauds anyway) walk away from credit cards (Fico: huge fraud), walk and bye bye underwater mortgage. Hey,…it’s just a pragmatic family business decision. Got the idea from Wall Street too big to fail banks, I hear they are really good at it, got my Tarp money and all, so screw it. Start me a family weed/veggie garden, shop local, pop me a cool one and,..Oh, well it.
March 30th, 2010 at 8:09 pm
ra ra ohh la la
ra ra ohh la la
March 30th, 2010 at 8:09 pm
AIG shouldn’t be …
AIG shouldn’t be paying a FUCKIN” dime in bonus money!!!
YOU STUPID FK!!!!
March 30th, 2010 at 8:09 pm
get out while u can
get out while u can
March 30th, 2010 at 8:09 pm
Search for Mary …
Search for Mary Croft’s free ebook called
HOW I CLOBBERED
EVERY BUREAUCRATIC
CASH-CONFISCATORY AGENCY
KNOWN TO MAN
March 30th, 2010 at 8:09 pm
There is no …
There is no conspiracy? But did you read the communist manifesto?
Establishment of private property and inheritances.
Central banks in all nations.
Control of public education.
The list goes on.
And the protocols of zion were probably written by communists and pinned on Jews. For the reason of scaring the lesser Jews into the conspiracy.
March 30th, 2010 at 8:09 pm
For all practical …
For all practical intents and purposes, FDIC has been dead for about a year now. Do the math.
March 30th, 2010 at 8:09 pm
“The best way to …
“The best way to destroy the capitalist system is to debauch the currency.” -Vladimir Lenin
March 30th, 2010 at 8:09 pm
I’m just a dumb …
I’m just a dumb veteran going to college on the GIBIll…should I be planning to work in China/Europe in 4 years??
Assuming the treasury in austin doesn’t dry up..
March 30th, 2010 at 8:09 pm
AOCS Silver, I am …
AOCS Silver, I am interested! shoot me a line on some good information! Thanks!
March 30th, 2010 at 8:09 pm
this is not JFK …
this is not JFK quote its Mary Croft’s
she wrote a e-book and its called
HOW I CLOBBERED
EVERY BUREAUCRATIC
CASH-CONFISCATORY AGENCY
KNOWN TO MAN
March 30th, 2010 at 8:09 pm
Yeah Glen,everybody …
Yeah Glen,everybody in the world is just a bunch fun loving people that wouldn`t hurt a fly.After countless wars and killing hundreds of millions of fellow human beings you wouldn`t dare too think that something evil is going on.
Get a clue.The U.S. Constitution was written to protect americans from just those type of people.
WAKE UP!!!
March 30th, 2010 at 8:09 pm
As smart as he …
As smart as he sounds, Stuart is still a dolt on what Socialism really means. He easily mixes politics with economics and I see no such connection. Greed knows no such boundaries and works regardless of anyones political persuasion.
March 30th, 2010 at 8:09 pm
yes! the world …
yes! the world would love this.. although I lived in Sweden.. and thought they would collapse.. but they kept their money.. from the EU so thay can play at their will.. it’s a downward spiral….
March 30th, 2010 at 8:09 pm
yes… he’s a dork …
yes… he’s a dork.. but a self educated and very honest dork..
March 30th, 2010 at 8:09 pm
Like Edison?
Like Edison?
March 30th, 2010 at 8:09 pm
“All problems, …
“All problems, depressions, wars, disasters, assassinations, all of them were planned, caused, instigated, and implemented by the International Bankers and their attempt to establish a central bank in every country in the world, which they have now done, thanks to corrupt politicians who have been bought and paid for. This is all you need to know about the history of the world.” John Fitzgerald Kennedy.
March 30th, 2010 at 8:09 pm
This is hard to …
This is hard to understand and there are so few people in the media even trying to educate the general public. Instead,we are discussing the virtual pennies that AIG handed out.
March 30th, 2010 at 8:09 pm
Explains what? …
Explains what? Self-education doesn’t mean what degree he got. Self-education means that if something is going on that you don’t understand you, yourself goes and finds out what it is and come to your own conclusions.
March 30th, 2010 at 8:09 pm
nevermind…..just …
nevermind…..just heard him say self -educated……that explains it
March 30th, 2010 at 8:09 pm
did GB get thru …
did GB get thru college on an athletic scholarship??
March 30th, 2010 at 8:09 pm
did he say harshin …
did he say harshin my mellow dude???
March 30th, 2010 at 8:09 pm
Peter Schiff. Peter …
Peter Schiff. Peter Schiff. Peter Schiff.
We have no capital, we have no credit. The only money we can get is to print or borrow!!! In order to change this, we must shift to savings… Boring yes, Recession yes. As he says, America is sick and needs it’s medicine (recession). Sometimes medicine doesn’t taste good. At this point, point me to drugstore cause I’m ready for my dose.
March 30th, 2010 at 8:09 pm
possible? yes it …
possible? yes it is possible..is “can” be done…however ask Anyone going to college right now..ask anyone who makes more than 17 thousand per year on how they would feel about that…im not kidding..ask them. See what their reaction would be . Once again. ..start off with people going to college..ask them first..
you will get the answers well enough to let you see who cares about what…and what is most important. I wont answer for them..i already got my answers.
March 30th, 2010 at 8:09 pm
lol quantitative …
lol quantitative easing is Bernanke’s dumb word for printing money.