>QE is buying back debt with newly printed money. It's an accounting trick. They are paying off a dollar of debt with 70 cents. Nothing too tricky about that.
If you want to oversimplify the work of the Fed, fine. But the real question is whether or not QE will lead to hyperinflation, as gleefully predicted by Schiff, et. al. To date, there is zero evidence to support that theory.
I'm going to make a prediction for one year from now: Unemployment will be between 4 and 5 percent, inflation will be below 2 percent and Peter Schiff will still be saying hyperinflation is right around the corner, hoping against all odds that his broken clock is right this time.
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Today's Featured Article - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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