Has there ever been a more fabricated economy in our history?

[MeNonPartisan]

Consider this. If interest rates were a normal rate of 7.5%, then your house would be worth 60% what it is today. In other words, the mortgage on a 250K mortgage at 3% is equal to 150K mortgage at 7.5%. Look for yourself using a morgage calculator. Interest rates have created what is clearly a fabricated housing market, and that's without considering control of foreclosures.

The low interest rates have also increased production. This has created jobs, added investments and an increased stock market value. All fabricated. Without these interest rates our economy collapses. Meanwhile, we continue to experience the longest recession since the Great Depression. High unemployment and a continuious reduction in the standard of living. The government has proven their incompetence and managed to add 7 Trillion to the national debt during Obama's tenure. It took 232 years to reach 10 trillion, now we're at 17. Part of that money was used for "stimulous", or in other words, allow the incompetent to maintain incompetency.

 

[waltky]

Uncle Ferd says, "Heck - he coulda told `em dat...

Fed Chairman Is Admitting That Economy's in 'Bad Shape'
September 19, 2013 -- The announcement from the Federal Reserve on Wednesday that it would continue pumping new money into the economy "is a major admission by Bernanke that things aren't good," Former Rep. Ron Paul told MSNBC's "Morning Joe" on Thursday.

"He's literally saying, 'We're in bad shape.'" The stock market soared on the unexpected news that the Federal Reserve's "quantitative easing" program will continue, even though Bernanke hinted earlier this year that the stimulus program would begin to wind down. (Under quantitative easing policies, the Fed creates new money which is used to buy government bonds and other assets from banks, thereby boosting available capital.)

"I think it was a very, very bad announcement yesterday that the economy is a lot worse off, and I think in time that will prove to be the case," Paul said. Paul, referring to inflationary pressures, said it's a bad idea to "continue to destroy our currency," because it "always destroys the middle class and the wealthy get wealthier."

"So all inflation is bad, this idea that the Fed can create money out of thin air to satisfy special interests -- and the politicians who like to spend money -- it always leads to trouble, except on the surface a lot of people feel good about it."

Unemployment rate 'well above acceptable levels' - See more at: Ron Paul: Fed Chairman Is Admitting That Economy's in 'Bad Shape' | CNS News

 

[R.C. Christian]

To the OP: Nope.

 

[rhodescholar]

To the OP: Nope.

The facts are there for those who wish to learn them:

http://www.nytimes.com/2013/09/19/business/americas-sinking-middle-class.html?ref=business

 

[Avorysuds]

Obama is running around 2 trillion dollars a year in deficit spending, Obama simply has the FED-R doing a trillion of it off the books. Obama is in fact the most incompetent president is US history, and that fucking sucks for all of us. But why would Obama care, he's now part of that 1% and when he is out of office he will never work again yet his personal wealth will double, triple and so on. Sorry Dems, just like Bush pulled one over one conservatives Obama used you and rolled you under the bus.

 

[waltky]

Granny says, "Dat's right - we drownin' in debt...

$3.39T Quantitative Explosion: Fed Owns More Treasuries and MBSs Than Publicly Held Debt Amassed From Washington Through Clinton
September 22, 2013 -- The same day that the Federal Reserve's Federal Open Market Committee announced last week that the Fed would continue to buy $40 billion in mortgage-backed securities (MBSs) and $45 billion in U.S. Treasury securities per month, the Fed also released its latest weekly accounting sheet indicating that it had already accumulated more Treasuries and MBSs than the total value of the publicly held U.S. government debt amassed by all U.S. presidents from George Washington though Bill Clinton.

Since the beginning of September 2008, in fact, the Fed's ownership of Treasury securities and MBSs has increased seven fold. As of the close of business Thursday, the Fed said, it owned approximately $2,052,055,000,000 in U.S. Treasury securities and approximately $1,339,771,000,000 in mortgage-backed securities—for a combined total of about $3,391,826,000,000 in Treasury securities and MBSs. The U.S. Treasury divides the U.S. government debt into two parts: debt held by the public, which includes publicly traded Treasury securities such as Treasury bills, notes and bonds, and intra-governmental debt, which is money the Treasury has borrowed out of the Social Security trust fund and other government trust funds and then used to pay current expenses.

As of the opening of business back on Nov. 23, 2001, according to the Daily Treasury Statement, the federal government’s total debt held by the public was $3,383,605,000,000. (By the close of business that day, the total debt held by the public would increase to 3,406,661,000,000.) The $3,383,605,000,000 in U.S. Treasury debt held by the public as the morning of Nov. 23, 2001, represented the total publicly held debt the federal government had accumulated until that date from the moment the Treasury first opened during the presidency of George Washington. The $3,383,605,000,000 the Treasury owed to the public as of the morning of Nov. 23, 2001 was less than the $3,391,826,000,000 in Treasury and mortgage-backed securities owned by the Federal Reserve as of the close of business last Thursday.

Thus the Federal Reserve now owns more debt in the form of U.S. Treasury securities and MBSs than the sum total of the publicly held debt that the U.S. government accumulated from George Washington’s administration into November 2001, during President George W. Bush’s first term. The mortgage-backed securities owned by the Fed are those that have been issued and guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae. Ginnie Mae is government-owned corporation operated by the U.S. Department of Housing and Urban Development. Fannie Mae and Freddie Mac are congressionally chartered, government-sponsored enterprises, that are now held in conservatorships by the federal government.

- See more at: $3.39T Quantitative Explosion: Fed Owns More Treasuries and MBSs Than Publicly Held Debt Amassed From Washington Through Clinton | CNS News

 

[S.J.]

Obama is running around 2 trillion dollars a year in deficit spending, Obama simply has the FED-R doing a trillion of it off the books. Obama is in fact the most incompetent president is US history, and that fucking sucks for all of us. But why would Obama care, he's now part of that 1% and when he is out of office he will never work again yet his personal wealth will double, triple and so on. Sorry Dems, just like Bush pulled one over one conservatives Obama used you and rolled you under the bus.

That's ok, eventually he will end up in Hell.