This is the same as paying your MasterCard bill by putting it on your VISA card.
It solves nothing, only postpones the inevitable painful choices
needed to address the real problem (overspending) and creates the untruthful
impression that all is well with our financial situation.Bernanke
needs to resign or be fired, and anyone who thinks "quantitative easing"
is a solution for anything needs to be kept far away from positions of power or
influence. "Quantitative Easing" is actually nothing more than printing
money to pay current bills. Under the best circumstances, this devalues the
current dollars, reducing the true value of any wealth people have struggled to
accumulate. Of course, it allows debtors to pay off their debts with dollars
that are worth less. (And that makes your retirement account, and your pension
funds and college savings accounts all worth less too!)
Lets remember how well this worked out for the Weimar Republic.