Rupublican leaders warn Bernanke

[pscot]

http://www.boston.com/business/articles/2011/09/20/gop_leaders_fed_should_resist_new_stimulus/

WASHINGTON—In an unusual move, Republican leaders of the House and Senate are urging Federal Reserve policymakers against taking further steps to lower interest rates.

On the eve of the Fed's two-day policy meeting, the leaders sent a letter to Chairman Ben Bernanke warning that the Fed's policies could harm an already weak U.S. economy.

The letter, sent Monday, was signed by Senate Republican Leader Mitch McConnell of Kentucky, Senate Republican Whip Jon Kyl of Arizona, House Speaker John Boehner of Ohio and House Majority Leader Eric Cantor of Virginia.

The letter followed criticism from several Republican presidential candidates that the Fed's efforts to boost growth have already raised the risk of high inflation.
(more)

[Ineeda]

1. I don't understand much of this or the ramifications of it

but if those assholes are against it, I'm for it.

[RKP5637]

2. How much lower can they go. Bernanke is using 20th century solutions for

21st century problems. Lowering the interest rates is NOT going to bring a damn job back IMO. And down the road inflation is going to go out of control. It is not going to create Demand.

[pscot]

3. The point is to sandbag the President

They'll do whatever it takes to stall recovery. The coupe depends on a bad economy. Shock and awe, baby. Shock and awe.

[RKP5637]

5. It all gets soooo damn disgusting. GOP = The Terrorist Party. n/t

[Kennah]

4. I'm sure they can go lower, but it's only The Haves who can benefit.

We Have Nots will be told to FOAD.

[jtuck004]

7. But it does give very cheap money to people who can then loan it

at usurious rates to mortals, as well as create opportunities outside of the country for profits.

That whole job-creation thing that is part of their mandate went under the bus and out the back a long time ago, I think.

[golfguru]

8. You are right! The problem is lack of demand not lack of liquidity

They can drop the interest rates to zero and still it won't create any jobs because no business will expand without a demand for it's goods.

How does one bolster demand? The answer is blowing in the wind my friend! When will the politicians ever learn??

[Po_d Mainiac]

6. Fine, but where were these shitheads

When Greenscum was pouring cheap "liquidity" into the financial markets, beating the piss outa savers, and creating the housing bubble?
When Brooksley Born warned about shadow banking and the unregulated derivatives markets?
When most of our D2D manufacturing was being off-shored?
When the leverage ceiling on the banksters was ripped away?
When the "stress tests" "mark to myth" scam was being written
When the payments into the FDIC trust fund were slashed?
When the FBI reported massive mortgage fraud and begged for more agents?
When Tiny Turbo was shovelling taxpayer money into AIG so-as to bail out Treas. Sec PaPaPaPaulsons shitty ass bank?