QE3 barely mentioned on the news.

[Madison320]

I taped 4 hours of CNN today. Only 2 minutes were spent on QE. Nothing on Limbaugh or Hannity that I heard. Nothing on Boortz's notes for the day so I assume he didn't mention it. I don't get FOX so I don't know if they covered it at all.

This is amazing to me. I think this is one of the biggest stories on the last decade. It may turn out to be the biggest story in US history if it results in hyperinflation.

Just watch. In a short period of time gas is going to surpass $4 a gallon. Conservatives will blame it on Obama's oil policy. Liberals will blame it on greedy Big Oil. They're both ignorant.

[Zippyjuan]

I would not consider Limbaugh or Hannity news sources. They are commentary.

[acptulsa]

Can't short sell and devalue people into the poor house if you give them fair warning first.

[Madison320]

I would not consider Limbaugh or Hannity news sources. They are commentary.

I know but they should still be all over QE3. They keep talking about how Obama is going to wreck the economy and Romney is going to save it. How do you know Romney is going to save the economy if you don't even know the importance of QE3?

[Occam's Banana]

I know but they should still be all over QE3. They keep talking about how Obama is going to wreck the economy and Romney is going to save it. How do you know Romney is going to save the economy if you don't even know the importance of QE3?

That's just it, though. They *don't* know that Romney can save the economy. In fact, I would venture that they don't really *care* whether he can or not.

They don't understand the importance or significance of QE, because they don't understand economics - and they don't care to understand it. That's why they aren't talking about QE3. They're just bashing Obama & plumping for Romney because they're hacks whose jobs are to bash Obama & plump for Romney. They'll ignorantly spout off about the economy (or anything else they know nothing about) as long as it affords them the opportunity to piss & moan about Obama.

[Madison320]

That's just it, though. They *don't* know that Romney can save the economy. In fact, I would venture that they don't really *care* whether he can or not.

They don't understand the importance or significance of QE, because they don't understand economics - and they don't care to understand it. That's why they aren't talking about QE3. They're just bashing Obama & plumping for Romney because they're hacks whose jobs are to bash Obama & plump for Romney. They'll ignorantly spout off about the economy (or anything else they know nothing about) as long as it affords them the opportunity to piss & moan about Obama.

Most conservatives (and liberals) remind me of team sports. When someone on the other team does something stupid they're all over it, complaining like crazy. When someone on THEIR team does the EXACT same thing they don't say a word or they make excuses.

Federal spending is a perfect example. I can remember Rush Limbaugh was constantly excusing Bush for all his spending. I kept hearing him say about Bush's spending, "Spending goes up, it goes down, it really doesn't makes that much difference."

Argghhh. I need to quit letting it upset me. I gotta remember it's just entertainment, not educational.

[acptulsa]

Argghhh. I need to quit letting it upset me. I gotta remember it's just entertainment, not educational.

It isn't entertainment. And it's dividing Americans against one another and leaving us ripe for conquest. So, if you have a brain and a conscience (and I'm quite sure that you do), good luck on keeping it out from under your skin.

[bxm042]

They don't understand the importance or significance of QE, because they don't understand economics - and they don't care to understand it.

Yep. Several smart people I've talked to wouldn't even take me seriously, because their argument was, "we wouldn't have a Federal Reserve if it didn't have a purpose, especially after a hundred years." Of course I then proceed to point out, that the "purpose" is to make the bankers rich, and keep the gravy train going for the big spenders in washington, and its purpose has nothing to do with actual economics.

They then counter my argument with the same argument they used before, "ok, sure, that makes sense, but then why is still around after a hundred years?"

Also they throw in a few "that shit's complicated, I'm sure there's a reason for it, these people are experts" and you get a gigantic mind-boggling amount of stupidity from otherwise smart people.

Blind faith in the government, is what it is.

[Madison320]

Yep. Several smart people I've talked to wouldn't even take me seriously, because their argument was, "we wouldn't have a Federal Reserve if it didn't have a purpose, especially after a hundred years." Of course I then proceed to point out, that the "purpose" is to make the bankers rich, and keep the gravy train going for the big spenders in washington, and its purpose has nothing to do with actual economics.

They then counter my argument with the same argument they used before, "ok, sure, that makes sense, but then why is still around after a hundred years?"

Also they throw in a few "that shit's complicated, I'm sure there's a reason for it, these people are experts" and you get a gigantic mind-boggling amount of stupidity from otherwise smart people.

Blind faith in the government, is what it is.

This reminds me of the scene in Animal House, where Flounder lets the guys use his brother's car for a road trip. During the road trip the car got trashed and the one guy (I can't remember his name) said, "Hey, you fucked up, you trusted us!"

That's what the govt is gonna say to us when hyperinflation hits. "Hey! You fucked up! You trusted us!"

[acptulsa]

They then counter my argument with the same argument they used before, "ok, sure, that makes sense, but then why is still around after a hundred years?"

Also they throw in a few "that shit's complicated, I'm sure there's a reason for it, these people are experts" and you get a gigantic mind-boggling amount of stupidity from otherwise smart people.

They couldn't get rid of the last laws tying the value of the dollar to gold until 1971. In 1971 you could still get a hamburger for a quarter and a new car with a V-8 and air conditioning for $4000. Since that time they've printed so many dollars that the burger is two and a half bucks and the car is forty grand. Which is to say that every dollar you put in the bank in 1971 will now spend like a 1971 dime.

It's still around because it took fifty-eight years before they could remove all our protections (at Bretton Woods), and they decided to milk us for the following forty-one years in hopes we'd be stupid enough to lie down and take it rather than stand up like men.

See how that works for you next time.