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Fed Pondered Radical Steps to Support Recovery

Business  (tags: politics, business, Fed, recovery )

- 3161 days ago -
A weaker economic outlook prompted Federal Reserve officials to consider more radical steps to aid the economy before settling on $600 billion in bond purchases earlier this month


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Dave K (308)
Wednesday November 24, 2010, 2:12 am
Watch our money go down the tube.

patricia lasek (317)
Wednesday November 24, 2010, 3:59 am
Get rid of Bernanke!

Past Member (0)
Wednesday November 24, 2010, 4:30 am
Noted and thanks Jae .

Keep watching and listening and know when its time to move on. I hope everyone is taking this economy seriously and has already started preparing and stocking up above all have a plan in place because if you don't you could be sorry you waited until it was too late .

Kit B (276)
Wednesday November 24, 2010, 5:04 am
That's a rather non-specific article. I think these folks are attempting to forecast what the most dire situation might be and prepare (if possible) for that eventuality. I do think that if we don't start some "blue collar" jobs, or pay for retraining we can expect longer term unemployment. Isn't it time we began to invest in the future with jobs that help to rebuild and sustain our country. The plush middle class life financed by credit is showing all the signs of weakness that were there from the beginning. Political ideology will not win the day.

Past Member (0)
Wednesday November 24, 2010, 6:54 am
Noted, thanks Jae. As Bob Dylan sang, "When you got nothing, you got nothing to lose".

Dotti L (85)
Wednesday November 24, 2010, 7:01 am
Noted and once again, thanks, Jae

Charmaine C (177)
Wednesday November 24, 2010, 7:18 am
Will putting more money into the banks really change anything or will they do as they did before and gamble that money in the carry trade? So many people are not in favour of QE.

Debbie Hogan (115)
Wednesday November 24, 2010, 8:25 am
Utterly depressing...That's all I can think of to say...

Trish K (93)
Wednesday November 24, 2010, 8:32 am
It's time to invest in the future of our children thru education and the learning of two or more languages so they can go where the jobs are. I don't think the jobs will ever come back here because we really have seen how much damage to the the earth has been done. We need clean sustainable jobs not just for the people that are already here but when our soldiers come home too. Farming is a thought

Terry King (113)
Wednesday November 24, 2010, 8:57 am

Nancy Anderson (21)
Wednesday November 24, 2010, 9:03 am
We may all be growing our own food when the banking system collapses. I watched this video about what's going on last night. I don't know how much to believe but it talks about this subject.

Jae A (316)
Wednesday November 24, 2010, 10:27 am
Bands are the reason we are where we are today. Giving them more just doesn't seem like a good idea to me personally. There will be no new jobs until the Corporations start manufacturing again in this country. That is clear or so I believe. Banks are going to aid in that effort as their are 'risk' and all they want now is to build up their surplus of cash on hand. They froze lending as it is and to put ourselves deeper into the money pit to have them do so with more of the tax dollars really doesn't sound...very sound to me. Experimenting is not the thing to do now and with that much new debt...inflation is going to go through the roof,or so it appears to me would be the results of this 'plan'..

Past Member (0)
Wednesday November 24, 2010, 10:47 am
I am only speaking for myself> I hope I am wrong. I am afraid we are heading into a deflationary period that cannot be stopped. A lot of people are buying gold when they would actually be better off to invest in cash.

There's a lot of information about deflation on the net. Paul Krugman had a story about it on August 2nd in the NY Times. I used to hear people talk about how hard it was to make a living while deflation was occuring during The Great Depression.

No jobs, no spendable income, no credit, large inventories and no customers equals collapsing businesses having to sell off surpluses to survive and not being able to give it away because no one has any money.


Past Member (0)
Wednesday November 24, 2010, 10:49 am
"Cash is king during hard times", not gold.

Charmaine C (177)
Wednesday November 24, 2010, 11:44 am
If anyone wants to watch a short video clip on this QE, explained in simple but effective terms view it here:

It snowed here today and it's sooo cold outside. Hello winter!

Carol H (229)
Wednesday November 24, 2010, 11:58 am
thanks Jae, noted

Jae A (316)
Wednesday November 24, 2010, 2:00 pm
Thanks for the link you posted Charmaine. Once other watch it, it is one that, I think, should add more to this discussion.

. (0)
Wednesday November 24, 2010, 3:12 pm
Obama shouldn't have kept Bushs' failed Ben Bernanke and should have appointed someone who understands what they are doing. Greenspan made some poor decisions also that have led us into this catastrophe. Sadly and frighteningly, the whole worlds economies have been affected by ours and the world is like a house of cards.
We should pull out of BOTH wars and use the billions of dollars to flood the economy.

Be Blessed! Stay Blessed!
Peace, Love and Light ;-)

Kathy Chadwell (354)
Wednesday November 24, 2010, 8:33 pm
I'm going to pitch my idea one more time.
Give every family making under 250 thousand dollars a check for 250 thousand dollars,, that way they can pay off their homes, credit cards, cars, pay off bills, have those luxuries (you know,, like a roof over their heads and food to eat). The banks & others will then get the money. The trickle down effect has never worked and it will never work. Why not for once try it the other way around with more than a few hundred dollars. Amazing how we pay the taxes and they give us 300 dollars while they give the worthless banks billions

Susan S (187)
Wednesday November 24, 2010, 8:38 pm
I am not familar with the American system of banking, but in Canada we have banks that are as big as multi-national corporations (Royal Bank of Canada, Canadian Imperial Bank of Commerce, ScotaBank, Toronto-Dominion Bank and Bank of Montreal are the BIG FIVE) and HSBC and Credit Unions are on a smaller scale. Canadians are known for banking and insurance and it may contribute to economic stability. Different countries have different banking systems and the World Bank is another issue to consider. Anyway, thanks for this article.

Lin Penrose (92)
Thursday November 25, 2010, 10:57 am
Question from a lack of knowledge person; Who do all these countries and the U.S. Owe money Too? Lots of debt in this world now, so who or what is showing lots of profits/ gains and/or future gains? This may be a "watch the money who-done or is doing-it". I Do want to know, but not track all the comments. Any concise, layman source I can find?

Amanda Altubey (11)
Thursday November 25, 2010, 1:21 pm

John Williams (36)
Thursday November 25, 2010, 5:48 pm
QE2 does not give banks money - the Fed is buying the bonds on the open market. You have to sale a bond to get any money out of QE2 (except for Goldman Sachs which makes a very small commission on each purchase---& yes, I know a little of 600 billion is still a big sum)

Mary L (132)
Thursday November 25, 2010, 5:51 pm
You mean they might tax the rich? Force giant wall street concerns to give back all the money they stole from working people? Enforce laws and fines? Bring our military personnel home and save billions of dollars?

Sorry I was dreaming again wasn't I?

Jae A (316)
Thursday November 25, 2010, 5:55 pm
You certainly were Mary L. All that would be lgical and good for the nation..

Justin R (0)
Thursday November 25, 2010, 7:07 pm
Great comments, love your sense of humour... you know I am talking about you...

Aletta Kraan (146)
Thursday November 25, 2010, 7:13 pm
Noted !!!!

Bon L (0)
Friday November 26, 2010, 2:34 am
Thanks for the info.

Marianna Molnar (9)
Friday November 26, 2010, 2:44 am

Trequl M (170)
Saturday November 27, 2010, 10:51 am
Noted with thanks.

Bruce Eyster (62)
Saturday November 27, 2010, 8:51 pm
Radical Steps To Support Whose Recovery ?
It's not for the average guy's that's for sure !

Noted with thanks for posting.
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