Sunday, October 17, 2010

The Fed's Magic Money-Printing Machine, Act 2 - Matt Taibbi

The Fed's Magic Money-Printing Machine, Act 2 --

It’s amazing, given the attention the Tea Party allegedly is paying to
government waste and government spending, that there hasn’t been more
controversy about the now-seemingly-inevitable arrival of “QE2” – a
second massive round of money-printing cooked up by the Fed to prop up
both the government and certain sectors of the economy. A more overtly
anticapitalist and oligarchical pattern of behavior than the Fed’s
“Quantitative Easing” program could not possibly be imagined, but the
country is strangely silent on the issue.
(bold and underline mine)

The Fed is the problem.  Matt Taibbi sums it up perfectly.

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