Bigger context post:
Now that we've had a few days to process what has happened I'm sure voters now realize that last week held a hefty sign post for the future of our nation.
It was really good news for people, companies, and governments who are deeply leveraged and in debt! They are stoked. Cities are super stoked. Prudent savers, not so
much. People who will have a hard time absorbing higher costs for things like food, not so much.
What happened? The FED admitted that QE1 and
QE2 did not do the trick. We just needed more QE! We
needed to print more money (sorta). Here is a leftish leaning PBS Marketplace clip explaining how grandma blew it by saving. It is really short.
A similar take in a blog post by the super extreme, fantasy thinking, closed minded-doesn't allow other views (except when people deliberate in her comment section or submit posts to her for publication), by W.C.Varones can be found here.
Then there is this report, which reminds us that there are business cycles and structural changes to economies. Long-term growth in prosperity comes from innovations that make our economy more productive and efficient. It is not magic, nor granted to Americans because we just deserve it.
We also deserve a cool park with soccer fields, dog parks, and skate zones. The city council will vote on borrowing $8 million tomorrow night, for the Hall park, without giving the public access to the real cost of borrowing, even when they asked the city really really nicely for those numbers. There's never been a better time to borrow, borrow, borrow. Its still a great time to hide hide hide information from the voters and taxpayers.
Maybe the Saudis will save us and pump oil faster to cut fuel cost inflation.