Friday, November 5, 2010
Bernanke: Fed Will Not Monetize Debt
QE 2, quantitative easing, is monetization of the federal debt (h/t Glenda McGee). Keynesian economics is founded on lyng. The liars, i.e., the Fed, the economics profession, the federal government and the media, have bamboozled the public for nearly 80 years. Keynesian economics is based on wage reduction and transfer of wealth to asset holders at the expense of wage earners. This is accomplished using welfare as a smoke screen. Transfer the lion's share to asset holders, a small percentage to welfare recipients, then claim that the wealth is being transferred to welfare recipients. This trick was first devised by Augustus Caesar and it has worked beautifully in the United States. Part of the plan is an education system that numbs minds and teaches that the Keynesian plan is all that works. Keynesian economics is based on lying because saying openly that the economics establishment, Wall Street, the federal government and the media plan to make you poorer to subsidize the stock market will not fly in a democracy. You voted the Keynesians in and they have been ruling over you for 80 years. Enjoy the results.