It Worked So Well Last Time…

What could possibly go wrong?

Fed Undaunted by Uncertain Prospects for Money Printing

The U.S. Federal Reserve runs the risk of diminishing returns from its next round of money printing to amplify the subdued economic recovery, but that won’t stop it from trying.

Minutes due Tuesday from the Fed’s most recent policy-setting meeting may reflect some divisions among officials over whether to launch another round of asset purchases, known as quantitative easing.

Let’s see, last time each job “created or saved” cost, what, $2 million each?

Are they shooting for $10 million each now?

7 Responses to “It Worked So Well Last Time…”

  1. Gunslinger says:

    All of his supporters wanted to believe that he could walk across water. Little did they know that he’d turn their dollars into toilet paper.

  2. tree hugging sister says:

    I’d help from my basement, but two things ~ I don’t HAVE a basment and I keep getting this “carriage stuck” message from my printer. Next time, guys.

  3. ScurvyOaks says:

    The nice thing about inflation is that it’s a flat tax.

  4. Mr. Bingley says:

    …that totally humps savers.

  5. ScurvyOaks says:

    That’s true. Of course, a progressive income humps earners, and deficit-driven high interest rates hump businesses and borrowers. I don’t think the political will exists to cut spending as much as it needs to be cut (although I’m optimistic that spending will be cut significantly). For the rest of the fiscal equation, you have to pick your poison. My pick is a little of each of the poisons, because that’s least likely to kill the patient.

  6. Mr. Bingley says:

    I sure hope it’s cut significantly, or we are totally screwed.

    Well, more than we already are.

  7. JeffS says:

    I think we can all agree that politicians hump earners and savers.

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