$2 Trillion Argument – Glenn Beck Find’s the Pro’s and Con’s From the Experts

On Thursday the Feds bought up $1.15 Trillion in Securities… They bet the farm without asking "You"

March 20, 2009 – 12:29 ET

Is the fed’s ‘bet the house’ strategy going to be effective? If not, what happens? Glenn talked about this on TV last night and because it’s such a confusing issue, he wanted to present the best arguments on both sides of the issue. Here they are:

PRO Government “Bet the House” Spending Plan arguments

  • ‘Rambo Fed’ Will Buy Treasuries to Combat Crisis
    By committing to buy Treasuries and double his purchases of mortgage debt, Federal Reserve Chairman Ben S. Bernanke signaled his determination to avoid a repeat of the Great Depression and his willingness to pump as much cash into the economy as needed to end the current crisis.
  • Fed launches bold $1.2T effort to revive economy
    With the country sinking deeper into recession, the Federal Reserve launched a bold $1.2 trillion effort Wednesday to lower rates on mortgages and other consumer debt, spur spending and revive the economy.
  • Fed in Bond-Buying Binge to Spur Growth
    Dramatic Plan to Purchase $300 Billion in Treasurys Causes Biggest Drop in Interest Rates Since ’87; Perils of Printing Money

CON Government “Bet the House” Spending Plan arguments

  • The Fed End Game
    People are rightly outraged about the AIG bonuses but the amounts involved in that are tiny compared to the size of our problems.
  • Dollar Rally Crumbles as Fed Ramps Up Printing Press
    The rally that pushed the dollar to the highest levels since 2006 is in danger of crumbling as the Federal Reserve starts buying Treasuries and ramps up its purchases of mortgage debt, adding to a flood of greenbacks.
  • The Fed’s Futile Move
    In an effort to promote liquidity and boost the economy, the Federal Reserve announced plans to grow the money supply by another 50 percent to 60 percent.

Source:  GlennBeck.com


About Ask Marion

I am a babyboomer and empty nester who savors every moment of my past and believes that it is the responsibility of each of us in my generation and Americans in general to make sure that America is as good or even a better place for future generations as it was for us. So far... we haven't done very well!! Favorite Quotes: "The first 50 years are to build and acquire; the second 50 are to leave your legacy"; "Do something that scares you every day!"; "The journey in between what you once were and who you are becoming is where the dance of life really takes place". At age 62 I find myself fighting inoperable uterine Cancer and thanks to the man upstairs and the prayers from so many people including many of my readers from AskMarion and JustOneMorePet... I'm beating it. After losing our business because of the economy and factors related to the re-election of President Obama in 2012 followed by 16-mos of job hunting, my architect-trained husband is working as a trucker and has only been home approximately 5-days a month since I was diagnosed, which has made everything more difficult and often lonely... plus funds are tight. Our family medical deductible is 12K per year for two of us; thank you ObamaCare. But thanks to donations from so many of you, we are making ends meet as I go through treatment while taking care of my father-in-law who is suffering from late stage Alzheimer's and my mother-in-law who suffers from RA and onset dementia as well as hearing loss, for which there are no caretaker funds, as I continue the fight here online to inform and help restore our amazing country. And finally I need to thank a core group of family, friends, and readers... all at a distance, who check in with me regularly. Plus, I must thank my furkids who have not left my side through this fight. You can see them at JustOneMorePet.
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