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  • sybil_rulez sybil_rulez Mar 21, 2013 7:41 AM Flag

    Fed policy iz more insidous then Cyproit proposalz


    They both do the same thing - tax saverz. Bernanke doez so through the back door of low interest rates "for an extended period of time", and by way of QE infinity whose effect iz to tax saverz by way of 0% interest rates while US oligarchs are repeatedly bailed out and cash out on the inflation of worthless stox az real inflation rates rize. At least Cypriot policy iz more direct and visible and hit the uber wealthy with everyone else, but rest assured both policiez accomplish the same endz - taxing bank savingz.

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    • The most humorous thing was Bernanke saying the Fed is not targeting asset prices. Nothing could be further from the truth. Having said that, it is discovering that the second order effects of its actions are as big or bigger than the first order effects, making further increases in asset prices increasingly difficult. Many (like this pig) have nowhere to go but down. The only chance to keep ramping S&P is to use funny money here and elsewhere to rotate to real companies/invesments in which people have some degree of confidence on the fundamentals....

      • 1 Reply to techstrategy
      • And I still think it fails... Only truly viable solution involves a Steve Keen style debt jubilee / QE for the people. But, that has huge moral hazard issues (although it's not like QE for the banks, which is the existing plan, doesn't...).

        The only way out of this mess is significant domestic real productivity growth from actual investment in innovation and productive physical assets (geared toward lower minimum efficient scale of production). All the pong in the world cannot solve the problem... As long as printed money continues to be used for speculative "investing" in non-productive financial assets, we are just going to lose ground...

    • right on sybz

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