QE3 will crush the middle class: What appears as good news may not be after all

Quantitative Easing Crushes the Middle Class

The recent action by the fed caps a series of bad decisions that have had a demonstrably devastating effect on the middle-class in America.  An Article by Martin Crutsinger of the Associate Press, appearing in U.S. News Weekly screams, “Fed unveils bold, open-ended steps to aid economy.” Another paper that reprinted this article’s sub-head says, ” Move to buy $40 billion a month in mortgage bonds hopes to spur home buying, consumer spending.  While for many, this will look like it is a fantastic decision—the Federal Reserve is stepping up to once again to help “stimulate” the economy—the key question, that no one is asking, is will this actually help?  The answer to the question, unfortunately, depends on who is asking the question.  From the Government’s perspective, this is necessary. From the bank’s perspective Continue reading

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