by Dave in Denver:
"QE is coming in one form or another, both in Europe and the U.S. It has to happen in both places because the European banks are blowing up and the U.S. banks, via massive derivatives exposure, are exposed to the European banks on a significantly leveraged basis.
"Not only is QE coming, but Obama is starting to hint at more fiscal stimulas (read: Government borrowing and spending money to employ more public union workers). What I found staggering is that Obama referenced giving Americans money to spend on "thinga-ma-jigs" recently in a campaign speech in Minnesota. (Sourced from zerohedge.com) Obama: "there are some folks here who could use $3,000 a year...Let's get that done right now...it helps you pay down your credit cards...maybe someone will replace some thinga-ma-jig for their furnace." Truly staggering. Here's the video link: LINK
"So Big O is basically floating a trial balloon for initiating some kind of program to stick $3,000 in the pocket of each household in order to pay down credit cards and buy thinga-ma-jigs. I wouldn't have believed it unless I saw the video myself. Half of the population in this country lives in households that get Government benefits: LINK More troubling, the number of people who actually pay taxes now is less than 50%. So what Obama is proposing is to take money from those who pay taxes and give it to everyone so they can pay off credit cards and go shopping. Think about that for a bit..."
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