I think it is worth hearing everyday:
QE2: 80 BILLION TAX DOLLARS PER MONTH SPENT ON PURCHASING MORTGAGE-BACKED SECURITIES.
QE1: I do not remember the numbers exactly, but I believe it is 10-20 billion per month in munucipal bond purchases by the U.S. Taxpayer.
The idea of this itself is disgusting. In addition, The Fed act of keeping interest rates so low, thereby making for a nominal return in many savings instruments, is driving huge amounts of money into the equities market. The market is unnaturally robust and in need of a correction.
Finally, those leftist punks like to ***** about wealth disparity. Well, what has contributed to this more than Fed policy that is driving money into equities and, thereby, inflating stock values? There have been huge sums of money made over the past 2 years in the market, mainly by those who are already wealthy.
Personally, I begrudge those people absolutely nothing for profiting. I do, however, think that QE is not sound policy. Moreover, it sure as hell should not have gone on this long. The primary reason I believe it has gone on so long is that the lower interest rates keeps our $17 TRILLION national debt from growing so fast.
