QE3

The Federal Reserve announced that it would buy $40 billion every month in mortgage-backed securities until the labor market improves substantially.  The program, dubbed “QE3″, was called a “revolutionary shift in the Fed’s policy reaction function,” by senior economist at BMO Capital Markets in Toronto, Michael Gregory.  Helicopter Ben Bernanke’s new economic stimulus plan involves printing vast sums of [...]

How ironic, the U.S. national debt blows by a historic $16 Trillion during the Democratic National Convention (DNC).  U.S. government debt reached $16 trillion for the first time after rising $1 trillion since November, according to Treasury Department data.  The Democratic Party’s 2012 platform calls for future deficit reduction to exclusively come from tax hikes on [...]