In the News (from Chicago Now): “We all agree that we need to create jobs in this country. The U.S. economy has been stalled for years. While coming down from its highs of over 10 %, unemployment still hasn’t improved much, hovering between 8.1% to 8.3%, with no signs of enough job growth to stimulate our economy and get people back to work.
“So what do we do, especially in an election year? We print money!
“Federal Reserve Chairman Ben Bernanke contends that he is trying to help our economy by doing something that President Obama can’t, nor can Congress do and which Mitt Romney opposes. He is electronically creating money! The Fed says that it will ‘buy’ $40 billion a month in mortgage bonds until the high unemployment eases significantly.”
My Comment: Since the dollar became detached from gold, the economy has ceased to be the economy and turned into a game….