>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 - Fasteners: The Nuts and Bolts of Nuts and Bolts - by Curtis Von Fange. The nuts and bolts of nuts and bolts is an interesting and essential piece of knowledge that applies to our older tractors. An improperly torqued capscrew on an engine head or a shear bolt that is too hard on the driving shaft of a bushog can create havoc and make an expensive and uncalled for repair. Let’s examine the purpose and design of these fasteners in order to ensure their proper use. Fasteners are probably one of the aspects of mechanics that is given the least amount of thought.
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