Well it's starting. Ben Bernanke through the fed, will start purchasing $40 BILLION DOLLARS of mortgage backed securities PER MONTH, with no end date set. All this in an attempt to boost the real estate market in a shallow attempt to boos the economy to help Obama's re-election. And you and I are going to be paying for it.
"The Fed said it will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.
The purchases will be open-ended, meaning that they will continue until the Fed is satisfied that economic conditions, primarily in unemployment, improve.
"There's strong hints that they'll do Treasurys next," Joe LaVorgna, chief economist at Deutsche Bank Advisors, said in a phone interview from London. "They're pulling out all the stops to try to get this economy to gain some traction and, most important, to get unemployment down."
Since he can't raise enough campaign funds through legal means, he is going to use the Fed to try to artificially boost and inflate the economy to help with his re-election.
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