Friday, September 14, 2012

Quantitative easing = stealing you blind

SAN FRANCISCO (MarketWatch) -- Egan-Jones Ratings Co. said Friday it downgraded its U.S. sovereign rating to AA- from AA on concerns that the Fed's new round of quantitative easing, or QE3, will hurt the U.S. economy. 

Wait a minute ... what's this?  You mean we can't just keep on printing money and buying our own debt without hurting the economy?  My, my ... well, that IS perplexing ... to a lib.
The ratings agency said the Fed's plan of buying $40 billion in mortgage-backed securities a month and keeping interest rates near zero does little to raise GDP, reduces the value of the dollar, and raises the price of commodities. "From 2006 to present, the US's debt to GDP rose from 66% to 104% and will probably rise to 110% a year from today under current circumstances; the annual budget deficit is 8%," Egan-Jones said in a note. "In comparison, Spain has a debt to GDP of 68.5% and an annual budget deficit of 8.5%."

Wow, did you see all those numbers in the preceeding paragraph?  What a bunch of egghead mumbo-jumbo, am I right?

See, one of the things about libs is they're never perplexed at all ... no, no, ... just ask them, they know everything, they have ALL the answers ... and somehow, all the answers involve you doing what they tell you and also giving them more of your liberty and property (money.)

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