Ben Bernanke announced that he will keep on printing [digital] money to keep interest rates at zero until everyone in the country has a job. Let’s see why this is a disaster. Here are some reasons QE3 is a horrific idea.
Pride of place goes to the great Peter Schiff, who explains how QE3 will produce a new housing bubble, with the same bad effects as the one we just had.
In which it is explained that all govt programs can only create parasitic jobs, and the problems with that. The reader can easily deduce that QE3, too, has all those destructive features, and for the same reasons.
In which it is explained that all money printing, digital or otherwise, [AKA inflation], is good for the govt, but bad for the people. Meaning it will turn your granny into a homeless bag lady. And of course, QE3 is all about money printing.
In which we explain how QE3 discourages saving, and why saving is the single most important thing we need now.