QE2 was supposed to turn things around for the middle class and provide the poor with a nice little prosperity boomlet. Instead the poor are competing with many of their middle class neighbors for jobs and food stamps.
If the latest reports are any indication, there isn’t much chance things will improve any time soon.
Here’s the ugly truth:
Townhall.com
The Fed is winding down Ben Bernanke’s experiment in money printing called “QE2?. He trumpets his success saying that QE2 has pointed the U.S. economy “in the right direction.” But did it really? It turns out that QE2 has created maybe 700,000 full-time jobs, but at a cost of about $850,000 for each job.
All QE2 did was create a boom in the stock market. Wall Street bankers reaped millions while the average investors barely made back some small amount of the money that they lost during the 2008 crash.
Thelma and Louise
Obama: Are you sure we should be printing and spending like this, I mean in broad daylight and everything?
Bernanke: No we shouldn’t, but I want to put some distance between us and the scene of our last goddamn crime. »
Obama: But, umm, I don’t know, you know, something’s, like, crossed over in me and I can’t go back, I mean I just couldn’t live.
Bernanke: I know, I know what you mean. Anyway, don’t wanna end up on the damned Geraldo show. »
Obama: I don’t ever remember feeling this awake. »
Bernanke: I know it’s crazy, but I just feel like I got a knack for this sh#t.
Obama: I believe you do. »
Bernanke: I’ve had it up to my @ss with sedate. »
Obama: OK, then listen, let’s not stop.
Bernanke: What’re you talking about?
Obama: Let’s keep on going.
Bernanke: What do you mean?
Obama: Go.
Bernanke: You sure?
Obama: Yeah, yeah. Let’s. » QE3eeeeeeeeeeeeeeeeeeeee
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