QE3 didn't work because it it's not actually adding any...

QE3 didn't work because it it's not actually adding any financial assets to the system as widely believed, it is not money printing and has NO effect on bank lending.

Who cares if the US gets downgraded by S&P, what do people think, the US is not good for USD? The currency that only they produce, and can do so in unlimited quanitities.. News flash, ALL government spending is printing new money, and has been that way since 1972.

No money left for QE3? Bernanke said it himself- when we buy securities 'we just change numbers up on our computer', they dont ring up their Chinese buddies to ask for money.


Tax hikes?? It should be painstakingly clear to anyone with a brain that the US consumer is hurting right now and needs more money. Who can provide it? The US government, not China. The US needs massive tax cuts right now.
The treasuries check's won't bounce, they never will, agregate demand will instantly explode and people will restart hiring, problem solved vwala.


If you think we're all angry at our market performance due to the idiotic congressmen just think about how angry the MILLIONS of Americans that are going hungry every night because their disgraceful politicians honestly believe what their neoclassical economic advisers tell them.

They can fix their problem sovernight, but the ideological ignorance of a 'balanced budget', and misunderstanding are breaking America.

/ragequit