No replies to this topic

[nimblebear]

Courtesy of one Ben Bernanke, the euphoria has once again caught mainstream attention. Joe and Jill average 401k er over 55 has seen their portfolio "double" since 2009. Even though it got more halved in 2000, and once again in 2008, the talk of the town is certainly the unending bliss that are the US stock indices. We have a new paradigm unfolding right before our eyes ! To wit, QE has somehow worked miracles, so much so that: 1) we have a resurgent manufacturing base, with people talking about re-shoring 2) we have a new shale gas boom, driving steel and fertilizer and chemical and plastics firms to re-shore or expand domestic operations 3) we have a new oil boom, created by fracking, and now sending OPEC into splintering factions, along with driving prices so low, that we won't even need a war w Iran, bc the oil prices will take them under. 4) we have a 3-d printing boomlet, supposedly transforming American competitiveness in many industry's 5) our deficits are shrinking, because our oil imports are decreasing, and other exports rising 6) home prices are again sky rocketing, causing a resurgence in new home building 7) car makers are booming,as banks are once again subpriming, with 6 year loans to just about anyone who has a name. 8) coal plants are retiring, freeing up coal to be sold to china, and improving exports, while cleaning up our air 9) a strong dollar, courtesy of every other country on the planet racing to debase their own currency, which creates a demand for our dollars, along with dollars so foreingors can buy American assets, sending those assets even higher. 10) an economy so strong, that now even California is flush with cash,and has so much it doesn't know what to do with it all 11) labor participation rates are dropping, and thus our productivity is so stellar that we simply don't need as many people to work full time or even part time. In fact, we can afford food stamps the way the country is raking in tax dollars, coupled with benny printing more of it anytime we need it. Truly, who could have imagined, other than Krugman, that we'd have the best of all worlds thanks to one Benjamin Bernanke ? I guess this time, the euphoria is real, it's forever, and it is possible to simply push toxic debt onto someone else's books, and create as much money out of thin air, as you want, provided you possess the worlds reserve currency. It's too bad our President is the target of so many scandals as he could easily be constantly out campaigning and advertising all the good deeds being done by his hand picked genius.