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Fed Buys $20 Billion In QE3 Mortgages; Jobs Created: Zero

Posted By yihan On September 28, 2012 @ 7:58 am In Money Watch | Comments Disabled

Zero Hedge [1]
Friday, September 28, 2012

Yesterday, the Fed reported the first $20.1 billion [2]in net, non-rolling purchases of MBS eligible under QE3 (consisting of FHLMC, FNMA, GNMA and GNMA2, most likely the bulk of them coming out of a certain office in Newport Beach which has decided to start locking in its monster profits for the year after getting QEternity spot on [3]). End result: jobs created or saved zero. But at least we got the first recessionary PMI print, and an employment component that was the lowest since March 2010. When in doubt who can destroy the economy the best, just leave it to Benver.

Fed Buys $20 Billion In QE3 Mortgages; Jobs Created: Zero Fed%20Purchases%2020%20bn 0 [4]

 


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2012-09-28/fed-buys-20-billion-qe3-mortgages-jobs-created-zero

[2] first $20.1 billion : http://www.newyorkfed.org/markets/ambs/

[3] QEternity spot on: http://www.zerohedge.com/news/pimco-borrows-record-88-billion-bet-feds-upcoming-mbs-monetization

[4] Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/09-2/Fed%20Purchases%2020%20bn.jpg

[5] Economic Failure: 58 Percent Of The Jobs Being Created Are Low Paying Jobs: http://www.prisonplanet.com/economic-failure-58-percent-of-the-jobs-being-created-are-low-paying-jobs.html

[6] Jobs ‘Saved or Created’ in Congressional Districts That Don’t Exist: http://www.prisonplanet.com/jobs-saved-or-created-in-congressional-districts-that-dont-exist.html

[7] 73% of New Jobs Created in Last 5 Months Are in Government: http://www.prisonplanet.com/73-of-new-jobs-created-in-last-5-months-are-in-government.html

[8] Contrary to Government Claims of 243,000 Jobs Created, Hundreds of Thousands of Jobs Were Actually LOST In January: http://www.prisonplanet.com/contrary-to-government-claims-of-243000-jobs-created-hundreds-of-thousands-of-jobs-were-actually-lost-in-january.html

[9] UK: Nine out of ten jobs created last year went to foreign nationals: http://www.prisonplanet.com/uk-nine-out-of-ten-jobs-created-last-year-went-to-foreign-nationals.html

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