Bernanke Announces QE3 In A Big Way
Ben Bernanke announced today that QE3 (Quantitative Easing 3) would be an open-ended round of buying mortgage securities and keeping […]
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0 thoughts on “Bernanke Announces QE3 In A Big Way”
The Feds are really “scraping the bottom of the barrel” this time. After this, what else could they do? I feel that a big part of this move is to help obama’s re-election efforts. I think that in order to get our economy moving again, the big corporations (manufacturing) have to begin to recreate more jobs in the U.S. Our country was built upon a strong manufacturing base and we have essentially lost that. I hope and pray that our leaders will do the right thing(s) and restore this country to the powerhouse that it once was.
Thanks for the comment Vernon, I agree with you. If corporations know that they’re going to be paying more taxes next year, they’re not going to hire as many people as they would otherwise. Corporations create jobs for people, we need to make the environment friendly for them. Today the media announced that Obama has been a net “creator” of jobs since going into office. According to the Labor Department, in the year following his inauguration the economy lost 4.3 million jobs, and 4.4 million jobs have been added back since then. What they failed to mention is that we need to add about 150,000 new jobs per month just to keep employment levels steady due to immigration into our country, sort of like adjusting for inflation. That means we’re still about 4.8 million jobs behind where we used to be when Obama took over. And that’s why our unemployment rate is still at 8.1%. President Obama can try to say he’s creating jobs, but he really is “scraping the bottom of the barrel” with that claim. And one more thing, how many of those “new jobs” are paying less than what those people are used to earning? A lot of them.