Chuckles Schumer continues to hop over the line of common sense and sanity by demanding more quantitative easing. Because devaluing our currency the first two goddamn times sure did a metric fuckload of good.
Sen. Chuck Schumer, D-N.Y., exhorted Federal Reserve Chairman Ben Bernanke to stimulate the economy before November through some form of quantitative easing or other monetary policy, which Bernanke said could create jobs.
Hurry up, Benjy! Elections are coming up and we need to make the dollar a bit more worthless!
“Despite two false starts, we’re having a much rougher time than we ever imagined getting unemployment down,” Schumer told the Senate Banking Committee. “So get to work, Mr. Chairman.” Schumer said Bernanke needed to stimulate the economy because Congress refuses — “maybe after November we will,” he opined.
I know the first two times didn’t do shit, but… BUSH’S FAULT! BUSH! BUSH! BUSH! HIS ECONOMY! WORSE THAN WE EVER SAW! BUSH!
Oh, but we can fix it all after American idiots elect us again. No, really this time.
“We will act in an apolitical, non-partisan manner to do what is necessary for the economy,” Bernanke replied. “We have said we are willing to take further action,” he added, saying “it’s very important that we see sustained improvement in the labor market.
Hell, Benjy – I’d be satisfied with just an improvement! We’ll work on sustainment after Zero gets booted from Washington.
Before Schumer’s appeal, Bernanke praised the measures that he had previously undertaken to stimulate the economy.
“My own assessment is that quantitative easing and Operation Twist have been effective in supporting economic recovery,” Bernanke said, taking credit especially for launching the apparent economic recovery in 2009. “There’s also questions about side effects — risks that might be associated with their use, therefore they shouldn’t be used lightly,” he added, while saying that he would likely use them again if job growth remained “stuck in the mud.”
Let’s remind ourselves of the success of quantitative easing and Operation Twist:
Unemployment for 2012 so far by month:
Yeah, that’s some awesome success there, sparky!
How about that GDP growth?
That quantitative easing thing wasn’t working out so great. Someone want to enlighten me as to how diluting the value of our currency is going to help our economic situation?
If you want to find out more about quantitative easing, do listen to the dogs.