US Action News

John Williams of Shadowstats has repeatedly warned that our economy is not doing as well as some would have you believe. From unemployment to GDP to current and future liabilities, there are fundamental problems that will not be resolved anytime soon – in fact, they’re likely to get worse.

For those easily depressed, read no further. There is little positive that follows regarding the economic future.

Sadly Stewart’s viewers are probably laughing but not getting that the joke is on them as their money becomes worth less and less the more money the Fed ‘creates’ either by printing or just adding a computer entry on an account.

Fiction vs facts from Bernanke’s 60 Minutes interview.

Congress created the Federal Reserve System in 1913 to promote stable money and banking, and to lessen the disruptive ups and downs of the business cycle. The Fed has failed dismally.

Presented by Timothy Terrell at the Mises Circle at Furman University: “The Coming Currency Crisis and the Downfall of the Dollar,” 13 November 2010.

Rep. Michele Bachmann, head of the House Tea Party Caucus, tells Newsmax that the Federal Reserve’s plan to increase the money supply by buying government securities is a “huge mistake” that will boost inflation and amount to “stealing from the American people.”

Senate Majority Leader elect McConnell, Senator Jon Kyle, Speaker elect Boehner, and Rep. Cantor all signed a letter sent to Fed Chairman Ben Bernanke expressing their concern about the Fed plan to print more money to buy US Treasuries.

I think basically that the crash of 2007 through 2009 was only the first half of a much larger problem. I don’t want to say the worst is yet to come, but the second half may not be any more pleasant.

These two cartoon characters are telling it like it is unfortunately. They explain QE2 (quantitative easing) and the Federal Reserve’s economic strategy so simply a cave man can understand it.