QE2 ending in June?

Discussion in 'Politics, Religion, Social Issues' started by itcheroni, Apr 19, 2011.

  1. itcheroni macrumors 6502a

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    #1
    Hello folks. There's a lot of talk about taxes right now, but I feel that quantitative easing is by far a more important influence on the economy right now and in the future. Although it's set to end in June, I suspect Bernanke will find an excuse to extend it.

    What are your thoughts on this?
     
  2. Joshuarocks macrumors 6502

    Joshuarocks

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    #2
    I wouldn't trust that SOB Bernanke at all.. I can't wait until his empire is brought to its knees in 2012 when it will be audited.
     
  3. yg17 macrumors G5

    yg17

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    #3
    And who's going to be doing that? Ru Paul? :rolleyes:
     
  4. Joshuarocks macrumors 6502

    Joshuarocks

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    #4
    No, hopefully the American people themselves when they realize and wake up what is really going on and why the republicans and democrats are doing nothing at all to prevent these calamities from happening??

    Dont tell me you are defending Bernanke?
     
  5. yg17 macrumors G5

    yg17

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    #5
    I'm not defending Bernake. I just wasn't sure if you actually thought that one of the Paul nutjobs had a chance in hell of being elected :rolleyes:
     
  6. Joshuarocks macrumors 6502

    Joshuarocks

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    #6
    You've convinced me that he isn't the answer, but if we all don't start waking up to the higher gas prices and food prices going on around us, we are all going to wind up very upset and wanting to do something.. I already plan to start a revolt in my home state if GAS gets to 5 dollars a gallon.. I don't care, I just am sick and tired of all this political crap thats killing each and everyone in this country. We deserve better than this.
     
  7. yg17 macrumors G5

    yg17

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    #7
    Please share what your plans for revolt are. I need some entertainment on this otherwise uneventful Tuesday afternoon.
     
  8. Desertrat macrumors newbie

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    #8
    Geithner/Bernanke are already discussing the idea of not going "cold turkey" on the end of QE2. They'll come up with a new buzzword name of some sort, given the ridicule of "QE". But, basically, figure on QE2.1 or QE3, take your pick. They're not going to quit printing money and monetizing the debt. Gotta keep Wall Street happy.
     
  9. r1ch4rd macrumors 6502a

    r1ch4rd

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    #9
    For any other confused Brits, the aren't talking about the boat :D

    [​IMG]
     
  10. Love macrumors 68000

    Love

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    #10
    I thought they were talking about a highway. :confused:

    http://en.wikipedia.org/wiki/Alberta_Highway_2
    (usually referred to as the QE2/Queen Elizabeth 2 highway)
     
  11. iJohnHenry macrumors P6

    iJohnHenry

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    #11
    That is a ship.

    This is a boat. :p
     

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  12. r1ch4rd macrumors 6502a

    r1ch4rd

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    #12
    Have you been watching QI?
     
  13. iJohnHenry macrumors P6

    iJohnHenry

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    #13
    No, I don't watch television right now. Maybe I'll pick it up again, in a few years.

    I don't even know if that show is available, t'other side of the Pond from you.

    That was inflation in 1923 Germany, but was actually a week's wage. :eek:
     
  14. George Knighton macrumors 6502a

    George Knighton

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    #14
    QE2 in June. I just thought somebody had started another rumour about Her Majesty The Queen delegating more responsibility at the Diamond Jubilee.

    :)
     
  15. SactoGuy18 macrumors 68030

    SactoGuy18

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    #15
    I think President Obama is wondering why American residents and businesses have "offshored" way over US$10 TRILLION in liquid assets as an income tax avoidance measure (care to explain all those "banks" in the Cayman Islands, for starters?). Who needs QE2 if you can bring most of those liquid assets back to the USA to bolster the economy?

    Obama will almost guarantee himself a re-election if he were to finally take on our overly-complex national income tax system and drastically overhaul it so everyone really does pay their fair share. This is why I'd like to see him adopt the Steve Forbes flat income tax plan, where:

    1. You get a generous initial exemption for earned income, which in the case of a family of two adults and two children would be around US$44,000 (though it could be adjusted to around US$47,000 to account for inflation). This would right there free low-income people from the income tax "bite."

    2. Everything above the generous initial exemption will be taxed at a 17.5% flat rate with NO more other deductions, exemptions and credits. This would drastically simplify the tax form, so much so it would make the current IRS 1040 EZ form look complicated in comparison. And it means freeing up hundreds of billions of dollars per year for other economic activities.

    3. No more counting bank account interest, capital gains and stock dividend payments towards earned income. This would encourage American residents and businesses to stop "offshoring" that over US$10 trillion in liquid assets (ensuring financial solvency of banks), encourage American businesses to keep as much of their operations in the USA as possible (reducing the unemployment rate dramatically), and encourage American residents to save and invest on a private basis for retirement and medical needs (which would reduce the financial pressure on Social Security and Medicare).

    President Obama campaigned on a mantra of "change." Overhauling our income tax system to make compliance easy and be minimal harm to businesses would be a change that everyone across the political spectrum would appreciate. :) And it would make the US dollar stronger and stop the need for things like QE2.
     
  16. Desertrat macrumors newbie

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    #16
    SactoGuy, I've heard a lot worse ideas. :) Your Point #3 would likely result as you envision.

    In Point #1, however, remember that the Bush tax cuts reduced the rate for the lowest level (5%?) and doubled the child tax credit to $1,000. Overall, the bottom half of incomes pays roughly 3% of all income taxes.

    At any rate, I don't see how we can get out of the hole we're in. Aside from what appears to be an insurmountable debt, we see the shape of the economic pyramid changing from convex to concave. That is, the rate of pay of jobs is contracting; more low-pay jobs, fewer high-pay jobs. The question then is how do we generate the wealth to both support the existing system as well as pay our debts?
     
  17. Pachang macrumors regular

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    Dec 17, 2009
    #17
    What type of nutjob are you?

    Ron Paul doesn't need to be president for the fed to be audited.
     
  18. Joshuarocks macrumors 6502

    Joshuarocks

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    #18
    I might take the FED out myself along with the IRS..
     
  19. Eraserhead macrumors G4

    Eraserhead

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    #19
    Tax the poor not the rich. Great.
     
  20. Chundles macrumors G4

    Chundles

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    #20
    Aussies too. I re-read it twice looking for references to the ship.

    Or, alternatively, the possibility of the queen abdicating (0%).
     
  21. Joshuarocks macrumors 6502

    Joshuarocks

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    #21
    No, ******* you!! TAX THE FILTHY RICH, redeem the poor..
     
  22. Desertrat macrumors newbie

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    #22
    Tax the filthy rich? I saw one estimate that a return to the tax rate, pre-Bush for incomes above $250,000 per year, would generate some sixty billion dollars to the IRS.

    Only another $1.6 trillion of deficit to deal with.

    The Bush tax cuts resulted in more business activity, and the income to the federal government increased. Good odds that any increase in tax rates would slow the economy further and lead to more job losses. Same sort of problem had by Bernanke et al: If the Fed rate is increased, the economy slows down. If they keep the Fed rate low, the dollar continues to weaken and we have increasing consumer price inflation.
     
  23. Eraserhead macrumors G4

    Eraserhead

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    #23
    If so then surely the US would have stayed in surplus?
     
  24. Desertrat macrumors newbie

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    #24
    Can't maintain a surplus when Congress spends like drunken sailors and goes into deficits. One of the few bi-partisan efforts extant. But, what the heck, it's not their money.

    I said in 2008 that the monetary policy and Congress' spending behavior would not change. Well, I was somewhat wrong: The change was in the increased quantity of deficit spending. It has gone far beyond anything I ever envisioned.
     
  25. AP_piano295 macrumors 65816

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    #25
    rabble rabble rabble!!!
     

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