One must read these quotes!
From End of the American Dream:
“Ready or not, QE3 is here, and the long-term effects of this reckless money printing by the Federal Reserve are going to be absolutely nightmarish. The Federal Reserve is hoping that buying $40 billion worth of mortgage-backed securities per month will spur more lending and more economic activity. But that didn’t happen with either QE1 or QE2. Both times the banks just sat on most of the extra money” quoting the End of the American Dream.
“#1 Ron Paul
“It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that Bernanke has not achieved and it frustrates him, I can tellis he gets no economic growth. He doesnt do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time.”
Another hit to Yelm’s middle class.
And the City of Yelm continues to spend money like there IS in tomorrow!
For example, adding one million to the one million Yelm Library Bond for a Community Center, without public discourse!
Remember that Mayor Harding said the city could only afford up to $600,000 to buy the library facility?
Why did he spend $1 million on the library condo AND add another $1 million to the bond for a community center, without the public allowed to question these actions?