the money created today has already been spent, idiot. Thank God for the death of the tea partiers these past few weeks. Maybe if you repubs would get some moderates in office, you would get some votes, even mine.
the money created today has diluted the purchasing power of the money in your pocket and bank account, already spent or not. Calling Hacker an idiot is not contributing to solving the problem. Nor is creating money so it can be spent. Money is supposed to represent a store of value or a way to retain excess earnings in a convenient manner. When we went off the gold standard, we put faith in the money printers to print only enough for stable prices, but they redefined stable to be targetted 2% inflation. That is not stable and it is not a good storage program losing 2% every year to the banksters.
Rather than using the money created today and already spent on treasuries and agency debt, what do you think would happen to economic activity if that $85 billion per month or $280 per person in QE were returned to the citizen? I cannot imagine you would think it is better to continue to give it to the bankers via purchasing their agency backed mortgages. But the fed is trapped, because if they quit, housing values go down and local property tax revenues decrease and every thing from school districts to state and local governments get further starved for revenue. It is a ponzie economy running out of new suckers.
I find it absolutely amazing that the US public is happy about the congress committing to either tax the #$%$ out of them in the future to pay the bills or inflate them away destroying any and everyone not connected to recieve the new dollars first so they can be spent before devaluing. Joe citizen is being slow raped and he seems to be thanking, no, rewarding the criminal. I just got an email from my congressman about the current shut down and lack of budget and he is totally clueless. Bloomberg just had one of their analysts on and an adjacent segment with rep king and both of them advocate spending what we do not have or status quo, but for sure the boneheaded anchors will not ask what happens when the music they advocate stops. Guess it does not matter, they will have chairs, pretty sure I won't.