". . . a republic, if you can keep it."
This is the natural consequence of government controlling nearly everything.
“Although a lot of money still remains to be raised and spent, the data already show that we’re on track to break the extraordinary, record-setting sums spent in 2008,” said CFRP Executive Director Sheila Krumholz. “That cycle was the first in which we crossed the $5 billion mark, and the big question now is whether we will already reach—or surpass—$6 billion just one cycle later. At a minimum, we’ll come close.”
online.wsj.com/article/SB10000872396390443517104577573324135430222.html?mod=WSJ_hps_LEFTTopStories
Patrick Barron: Eric Rosengren, President of the Federal Reserve Bank of Boston, calls for an “open-ended program” of bond buying that will entail even “more substantive action than we’ve taken to date,”. Ominously he states that the bond buying program would continue “until we start seeing some pretty significant improvements in growth and income.”
The Fed engaged in Quantitative Easing One in 2009 and 2010 to the tune of $1.25 trillion. That didn’t do the trick, so it engaged in QE2 in 2011 for another $600 billion. So, we have had $1.825 trillion dollars of monetary stimulus so far and Mr. Rosengren, obviously a disciple of Paul Krugman, thinks that the Fed just hasn’t done enough.
If Mr. Rosengren has his way–and he simply may be sounding out public reaction for a policy already endorsed by the Federal Open Market Committee–the Fed will print money until the purchasing power of the dollar is destroyed.