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View Diary: Obama's foreign policy doctrine and why it makes sense (276 comments)

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  •  I agree 100% that the wealthy don't drive the (1+ / 0-)
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    Pale Jenova

    economy. Technically its not a handout since T-bonds are nothing but savings accounts at the Fed. In other words, I am no wealthier the day before I buy a T-bond nor the day after I sell it. This is a major reason why QE is not broadly stimulative, only deficits result in net new money creation, the Fed can't legally create NET financial assets.

    The second reason QE is not stimulative is also the reason its been a huge boon to the 1%.  Its resulted in a 120% increase in the stock markets and 80% of the stocks are owned by just 10% of the people.

    I just brought up QE because YOU said just issuing money and not bonds would have consequences, QE proves that this statement is wrong.

    Cutting FICA is the best and most efficient way to stimulate the economy as its the most regressive federal tax.

    "The Earth is my country and Science my religion" Christiaan Huygens. The gold standard ended on August 15, 1971, its time we start acting like it. If we can afford full employment killing Germans, we can afford full employment during peace-time.

    by Auburn Parks on Sun Mar 09, 2014 at 07:30:45 PM PDT

    [ Parent ]

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