Well you will probably (or probably have) heard of QE2. It is Quantitative Easing part 2. The mainstream media has put their propaganda twist on it so numbed brain Jersey Shore people will probably think it is a new Playstation game. In fact this isn't QE2 it is actually QE6. Let me expain

QE1 $152 Billion Economic Stimulus Act of 2008 (Feb 2008) QE2 $700 Billion Emergency Economic Stabilization Act of 2008 (Oct. 2008) QE3 $787 Billion American Recovery and Reinvestment Act of 2009 (Feb 2009) QE4 $26 Billion Hire Act "Jobs Bill" (Mar 2010) QE5 $30 Billion Small Business Jobs Act (Sept 2010)

Wow we are in deep trouble. If over $1.6 trillion in stimulus hasn't worked and now they are estimating that this QE2 might be between $500 Billion and $2 Trillion.

Re: Qe2

The individual Federal Income Tax rate payed by the richest 400 tax payers was around 40% in the 1960's, 30% in 1995, 16.5% in 2007.

(Talking about America)

When you look at the prosperity that was shared during the 1940's - 1970's the political system was represented by systems constructed of the middle classes... now with the filibusters and current political climate, it's unlikely that the middle class will be seeing any relief any time soon.

Re: Qe2

^^You hit the nail on the head...well almost...the period prior and shortly after world war 2 were the most prosperous for the US economy and the banking sector in turn. What changed is the taxing as you have mentioned and banking regulations. The markets are NOT self correcting and these stimulus packages ARE the right thing to do believe it or not...look at Germany 7% growth and everyone said what a massive gamble stimulus is. Now the difference so far is that Germany was willing to introduce some sharp banking regulations...while the US is still muddling through really. Lets hope the Washington decides to bite the bullet and loose some campaign funding in favour of doing what's right.

P.S. for the record all the fans of Ronald Regan can suck a dick as far as I am concerned

Re: Qe2

Stimulus is just kicking the can down the road. Eventually you will have to bite the bullet. You can't keep running up HUGE debts and expect the world to pay for your consumption. Schiff is right. Eventually the world will say "Hey we want to consume more of our products"

Re: Qe2

1929

Re: Qe2

^And fans of the unfolding Keynesian catastrophe and trickle-up poverty can suck a big black knob.

Re: Qe2

Sorry, RN, didn't see your post about this (should've known you'd be on top ;)).

And the FED is celebrating its 100th year of screwing America with its meeting on Jekyll Island today: [URL]http://theeconomiccollapseblog.com/archives/the-federal-reserve-is-holding-a-conference-on-jekyll-island-to-celebrate-100-years-of-dominating-america-a-return-to-jekyll-island-the-origins-history-and-future-of-the-federal-reserve[/URL]

Ron Paul is dead-on...these fucks need to be swiftly audited and then abolished.

Here's an anecdote of the times: In my poor f*ck apartment complex, some gold-buying outfit plastered their ads on several doors offering to buy that pesky metal, no matter the condition! Aren't they kind?! This is the first time I've seen such blatant gold-grabbing attempts made by such opportunists.

Re: Qe2

right...good luck with that.

Re: Qe2

Get silver it is a better buy right now

I hate the FED

QE1 $152 Billion Economic Stimulus Act of 2008 (Feb 2008) QE2 $700 Billion Emergency Economic Stabilization Act of 2008 (Oct. 2008) QE3 $787 Billion American Recovery and Reinvestment Act of 2009 (Feb 2009) QE4 $26 Billion Hire Act "Jobs Bill" (Mar 2010) QE5 $30 Billion Small Business Jobs Act (Sept 2010)

QE6 $600,000,000,000

Total So Far - $2,295,000,000,000

Re: Qe2

good thing you dont live here then. again.

Re: Qe2

Whatever calamity befalls here will have international consequences on developed countries and their economies.

In other news, O'Commie and his handlers feel he needs to rack up a $200 million daily bill for a visit to India, with 34 WARSHIPS to coincide with said visit.