Sarah Palin On QE3
Posted by Kal Vernon on Thursday, September 13, 2012
Under: Sarah Palin
From Sarah Palin's Facebook post:
President Obama is clearly revealing his rapid loss of any grip on the economic and security issues that are of utmost importance to our country. His economic and foreign policy blunders are manifesting chaos. On the same day when we see more chaos erupting in the Middle East and President Obama declaring that Egypt is no longer considered our ally, the Federal Reserve announced that it will spend $40 billion a month to purchase mortgage-backed securities with no end date set. QE3 is upon us.
President Obama is clearly revealing his rapid loss of any grip on the economic and security issues that are of utmost importance to our country. His economic and foreign policy blunders are manifesting chaos. On the same day when we see more chaos erupting in the Middle East and President Obama declaring that Egypt is no longer considered our ally, the Federal Reserve announced that it will spend $40 billion a month to purchase mortgage-backed securities with no end date set. QE3 is upon us.
In a speech nearly two years ago, I asked: “If [QE2] doesn’t work, what
do we do then? Print even more money? What’s the end game here? Where
will all this money printing on an unprecedented scale take us? Do we
have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until
eventually – inevitably – no one will want to buy our debt anymore? What
happens if the Fed becomes not just the buyer of last resort, but the
buyer of only resort?”
As predicted, QE3 is upon us. Is it any
wonder that the dollar is down against major currencies? This temporary,
artificial economic “stimulus” bought at the expense of high inflation
is no substitute for a stable currency and genuine long-term economic
recovery. This is what happens when big government centralized planners
try to “plan” our economy. President Obama is no doubt happy, though,
that this latest sugar fix comes 53 days before the election.
- Sarah Palin
As predicted, QE3 is upon us. Is it any wonder that the dollar is down against major currencies? This temporary, artificial economic “stimulus” bought at the expense of high inflation is no substitute for a stable currency and genuine long-term economic recovery. This is what happens when big government centralized planners try to “plan” our economy. President Obama is no doubt happy, though, that this latest sugar fix comes 53 days before the election.
- Sarah Palin
In : Sarah Palin
Tags: qe3