 | The Fed Will Make Sure Obama Wins in 2012Scotty Starnes | April 28, 2011 at 7:05 AM | Tags: Keynesian Economics, President Obama, Thanos Papasavvas, The Federal Reserve, U.S. economy | Categories: Political Issues | URL: http://wp.me/pvnFC-5bZ |
Can you say Q3. If the economy keeps on tanking, the Federal Reserve will keep on printing money to keep it afloat. This devalues the dollar, making everything more expensive, but the Fed and Obama don't seem to mind.
From CNBC.com :
As we approach next year's presidential elections, the chances of President Barack Obama being ousted by a rival from either side of the political divide are low, according to Thanos Papasavvas, the head of currency management at Investec Asset Management.
"History is very much on the side of the incumbent President and unless we have a double-dip recession with a significant increase in unemployment I don't believe Obama will lose 2012," Papasavvas said in an interview with CNBC on Thursday.
"On the economic side, any signs of a deteriorating economic environment will see the Fed enacting QE3 (the third round of quantitative easing, or creating money) and hence indirectly reducing the probability of the economy derailing Obama," Papasavvas added.
With the Republicans divided and no major rival yet to emerge, Papasavvas believes the American right wing will keep its powder dry for 2016 when four years of fiscal austerity will play into their hands.
Yes, like America can afford another 4 years of Obama's Keynesian economics.
"With no credible Republican heavyweight to face Obama, even those who have indicated their intent to run like Mitt Romney are unlikely to burn significant political or actual capital for 2012 preferring instead to wait for the 2016 election," said Papasavvas.
Obama needs the Fed and the Fed needs Obama to keep spending so they can keep printing, thus devaluing the dollar. Cough: fundamental transformation 101.
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