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Here Comes QE3
Posted By admin On September 14, 2012 @ 2:49 am In Money Watch | Comments Disabled
Lew Rockwell Blog 
Sept 14, 2012
In the latest round of government “stimulus” the Fed has announced  that it will be buying $40 billion in mortgage-backed securities each month for an indefinite period of time.
The logic here:
The effect of this will be:
We’ve heard for years from some incorrigible economists that what we need is the Fed to pump up the real estate market to get people spending again. Their answer is: more debt, more spending, less savings and investment.
This is what has been happening for years to no avail, of course, and the Fed is now just turning it up a notch. I’m sure recovery is right around the corner.
The definition of insanity/Keynesianism: Doing the same thing over and over and expecting a different result.
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URLs in this post:
 Lew Rockwell Blog: http://www.lewrockwell.com/blog/lewrw/archives/120869.html
 Fed has announced: http://money.cnn.com/2012/09/13/news/economy/federal-reserve-qe3/index.html?iid=Lead
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