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Steve Forbes – Fed Sinking Real Economy – Calls QE’s “Titanics”


In this recent hard-hitting interview with Financial Sense Newshour, successful entrepreneur and twice presidential candidate Steve Forbes likens Fed Chairman Ben Bernanke to a blind astronomer, says quantitative easings, or “QE’s”, should be called “Titanics,” while also warning listeners of impending wealth taxes now used in France and elsewhere.

http://www.financialsense.com/steve-forbes/fed-sinking-real-economy-quantitative-easing-titanic

 

“There’s never been a time when the [Fed] has positively guided the economy. It’s always a disaster when they try to guide the economy, and we see it here,” he explained.

“QE, or Titanic, whatever you want to call it, is contracting the economy,” he added.

“You know of price controls? When you artificially lower the price of something, you get less of it. The same is true of credit,” he said.

“By artificially lowering the price of credit, the government never has a problem, big companies never have a problem, but small businesses — very uncertain line of credit. Only now are they beginning to get a little more credit.”

http://www.moneynews.com/FinanceNews/Forbes-QE-Titanic-Fed/2013/05/10/id/503905

 

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  • David Mende

    Forbes is a Patriot. NOT!

  • http://www.facebook.com/profile.php?id=1672891012 Greg Burton

    Well, it was either prosecute the bankers for the toxic mortgage/LIBOR scams that impoverished the world and left US cities and towns without adequate police and fire services, punish the banking cartel’s multi-billion dollar drug-money laundering, investigate and punish the Bush-CIA-mafia S&L pillage, stop the looting of Social Security and the social safety net, investigate why we’re out-sourcing jobs and manufacturing to China even as the US is close to going to nuclear war with China as it threatens the US economy (national security), investigate who was really behind 9/11 that touched off the serial, never-ending wars of pillage against the nation-states of the world, and created the pretext for the massive police state edifice threatening the freedoms of every American, including gun ownership.
    …OR…

    Buy 2.0 billion hollow-point bullets, give away tanks to US cities and towns, train FEMA troops and subordinate the US military to the DHS, fly 30,000 soon to be weaponized drones flying over everywhere.