No, the B doesn’t stand for Barack, it stands for Bernanke.
The Fed released their notes on Wednesday indicating the economy is shrinking, congress is gridlocked, and Obama doesn’t have the power to do the only thing he knows; pass another stimulus program putting the world’s biggest debtor nation deeper in the hole. Voters in the 2010 election took that power away from Obama.
You know when you’re deep in debt the solution is always to borrow more money. So the governors of the Federal Reserve Board said we may have to do something.
Wall Street said; please oh please print some more money to devalue the dollar so we can continue to prop up an overvalued stock market making record profits while America’s middle class remains in the bulls eye of Obama’s economic destruction. We get ours, too bad for the middle class.
Several of the board members agree. Disregard that the mission of the Federal Reserve Bank is to protect the value of the dollar and keep the money supply in balance as to not cause dislocation and inflation. Seems B thinks his job is to destroy the dollar and inflate our way to solvency. His new charge is to create jobs because Obama has proven incapable.
What did Churchill say? A nation trying to tax (inflate) its way to prosperity is like a man standing inside a bucket trying to lift himself up by the handle.
Churchill today would probably say the American president, and the Federal Reserve have deserted the American idea. Individual liberty and property rights be damned when there’s an election to win and power to be maintained.
The O stands for Obama. Obama says the tax cuts for the rich costs the government too much money. To believe this you MUST believe your labor, your earnings belong to government first who will decide what is ‘fair’ for you to keep. This is wrong headed socialist thought.
This is the antithesis of the American idea of individual liberty and property rights. But Obama already proved at Osawotomie he doesn’t believe in the capitalist system or the American idea; Obama says it’s never worked. So Obama denies our past and destroys our future based upon leftist ideology.
Look to Europe if you believe the big government nanny state works. Spain 25% unemployment and bankrupt. Greece worse.
The O in our housing market is Obama eliminating the middle class leaving America with a ruling elite as the masterminds, and the rest of us dumb masses to do as we’re mandated.
Who predominantly owns, buys, and sells the most homes in America? The middle class.