Bernanke says the Fed will stop buying bonds (ie slowing the printing presses) and the market bails. What does this mean?
My first thought is that Wall Street has no confidence in near future economic recovery. For sure there is great dependence in government safety nets and bailouts. All at the expense of the taxpayer. Make no mistake fiat money is a tax. Inflation lowers the value of what little money we have, in essence taking buying power away.
As I recall free government money was the major cause of the housing crisis. Read the rest of this entry »
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