Fire up the printing presses, we have a presidency to prop up!
WASHINGTON (TheBlazeAP) – The Federal Reserve will spend $45 billion a month to sustain an aggressive drive to keep long-term interest rates low. And it set a goal of keeping a key short-term rate near zero until unemployment drops below 6.5 percent.
The policies are intended to help an economy that the Fed says is growing only modestly with 7.7 percent unemployment in November.
The Fed says it will direct the money into long-term Treasurys to replace an expiring bond-purchase program. The new purchases will expand its investment portfolio, which has reached nearly $3 trillion.
Frankly, I would not trust Krugman to brush his teeth without adult supervision frankly. He is, truly, one of the stupidest human beings on this, or any other planet. Smitty, does not rate Krugman very high on the intellect scale either. And Smitty ponders the train wreck that would result from Krugman being named Fed Chair
Admittedly, newspapers are headed down the extinction trail on our current national course, along with liberty. So in that sense, why not hand over the Federal Reserve to a boob like Kruge?”
Love this quote from Krugman
[Quantitative Easing] is very uncertain in its effect, but the [Federal Reserve] should be doing more of that.”
So, we do not know what its effects will be, but do more of it anyway? Good Freaking Grief how does this guy get on TV?
Video at the link. Tell me Krugman does not remind you of that drunk guy bugging you at happy hour? You know, the guy that just will not shut up? The guy who jabbers on incoherently about his job, politics, and so on. Yep, that is Krugman.