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Tuesday, December 02, 2008

Long time coming....

The folks in finance and in media are finally reaching the conclusions I have stated several times in the past.

Economic Signs Point to Longer, Deeper Recession
Recession in U.S. May Be Just Beginning as Job Losses Mount


Chicanery- continued
Ben, the guy who denies any responsibility, announced that the fed might start buying long-term Treasuries. This is essentially printing money and exchanging that paper for another piece of paper. Guy has no sense of productivity and productive growth. The Fed is going to buy anything that no one else wants to buy, as long as the seller is one of Ben's buddies.

Bernanke Says Fed May Buy Treasuries to Aid Economy

“Although further reductions from the current federal funds rate target of 1 percent are certainly feasible, at this point the scope for using conventional interest-rate policies to support the economy is obviously limited,” Bernanke said in remarks to the Austin Chamber of Commerce.

One option is for the Fed to buy “longer-term Treasury or agency securities on the open market in substantial quantities,” Bernanke said. “This approach might influence the yields on these securities, thus helping to spur aggregate demand.”

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