English: United States President Barack Obama signs into law the American Recovery and Reinvestment Act of 2009 as Vice President Joe Biden looks on. (Photo credit: Wikipedia)
Among the myriad of leftist entities who directly suckled from the 2009 Obama crony Stimulus teat program was leftist and racist “reconquista” organization “La Raza.”
What shovel ready “jobs” these anti American Democrat entities across America such as La Raza provided is an “utter” mystery. What is NOT a mystery is who these leftist entities are that pocketed current profits off your future debts.
Below is the link to the federal government’s own “Recipient Project” site where you can search your own area for your friendly neighborhood leftist Stimulus profiteers.
“This is a disastrous monetary policy; it’s kamikaze monetary policy” – Peter Schiff, CEO Of Euro Pacific Capital
Was I referring to Mr. Schiff with my headline? No. Peter Schiff put it much more succinct which is always useful in this age of attention deficits. Actually my headline was referring to the following quote from credit rating agency Egan-Jones.
“[T]he FED’s QE3 will stoke the stock market and commodity prices, but in our opinion will hurt the US economy and, by extension, credit quality. Issuing additional currency and depressing interest rates via the purchasing of MBS does little to raise the real GDP of the US, but does (will*) reduce the value of the dollar (because of the increase in money supply), and in turn increase the cost of commodities (see the recent rise in the prices of energy, gold, and other commodities). The increased cost of commodities will pressure profitability of businesses, and increase the costs of consumers thereby reducing consumer purchasing power. Hence, in our opinion QE3 will be detrimental to credit quality for the US….” -Credit Rating Agency Egan-Jones
If this didn’t quite sink in just read the word in bold and you will see why I began this post with a quote from Peter Schiff