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Why is nobody talking about the Fed's actions this week?
The Fed announced this week that it will be printing $1.2 trillion in order to buy some of the government's debt and and some of the "toxic waste" mortgage backed securities. I would think this would be really big news. The Fed hasn't bought bonds since the Korean War. It seems like a really desparate measurebut it's hard to even find news stories on it. Why the silence?
3 Answers
- Anonymous1 decade agoFavorite Answer
I mentioned this today to a Democrat. He denies it would happen, because Congress has the only authority to print cash. THen he went into some rant that conflict with itself. UNfortunately, there are too many that thinks we should print more cash, and don't understand it would devalue it.
- ?Lv 61 decade ago
Founding Fathers and colonial citizens were very hands on constituents. Contemporary voters rely too heavily on the political professional who is demonstrating gross ineptitude to manage Industrial and Technical Economic wealth.
"We The People" who must paint our own houses and mow our own lawns must better manage national wealth. Voting better educated representation will be a new beginning. Accountability and integrity of candidates must be better evaluated.
- Anonymous1 decade ago
Cause my dad's Rottenwiler died and I gotta bury him before dad gets home. He died yesterday and then the microwave caught on fire. Oh, and I wrecked the John Deere mower, too. So I am not talking about the Fed and the Korean War.
Man on Tv said the Fed is making one last desperate attempt to save the American economy. Wierd, huh?