Is the Fed running the U.S. economy into the ground?

I found this short video from Glenn Beck using a graph that makes it easier to see how much money the Fed has been printing lately. Common sense says that inflation is inevitable when bills are being printed like they have been lately…

And also, I apologize in advance if you are an Al Gore fan, he takes quite a few shots at him…

Take a look and tell us what you think…

(If the video doesn’t show, you can view it here.)

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10 Comments
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  1. :( Please don’t listen to Glenn Beck. Can you promise me that if he proves to be way off base on this one year from now, you will stop trusting him? I firmly believe is a hack. (I would like to take the time to back that up, but can’t right now.)

    For now, I offer you a post by a conservative economist explaining why pretty much every economist is worried about deflation right now and inflation is not a real concern. http://gregmankiw.blogspot.com/2008/12/next-round-of-ammunition.html (Again, it’s a complicated issue that takes a lot of explanation, so this post is unlikely to be convincing. At least, you must admit that Beck’s simplistic analysis is no more thorough than Gore’s..)

  2. I wonder if there is an excessive amount of pessimism about the economy and the job loss. Without a doubt the economy is in a very tenuous position but isn’t now the time to believe in our inherent ability to overcome, survive, and thrive?

    Instead of wasting too much time figuring out where blame lies (analysis of past mistakes is necessary to a degree) lets spend time developing solutions for ourselves and perhaps more help the people around us.

    Now is a time to tighten our belts and push forward believing in our inherent ability to succeed.

    http://www.weeklypoint.com/2009/02/06/are-job-losses-accelerating/

  3. That is depressing :(

  4. That’s Scary.

  5. Simple answer: Yes.

    The Federal Reserve was never created to actually help the US. It’s only purpose is to serve the private bankers that created it. Every dollar that is printed by the Fed has interest tied to it…and that interest is a tax upon US citizens. Guess which tax that happens to be. It’s our Federal Income tax. Don’t believe me? Go do some research. It won’t take long for you to find the answers.

    According to our Constitution, only Congress has the right to mint our money…especially not some private corporation. The Federal Reserve is not part of our Federal Government at all. It is privately held, and was incorporated around 1913-1914.

  6. Alexandra Hancock

    I am such a Glenn Beck fan and I agree with him 100% on this one. This whole “stimulus” plan has nothing to do with money and saving the economy, but it is being used as a tool to increase government.

  7. First of all, beck is a media tool that creates news for ratings, so take any of his messages with a grain of salt.

    Second, it’s easy to create a chart that will support any argument you wish.

    finally, it’s not the fed, it’s the treasury you should worry about. Their auction rates are going up despite falling interest rates. This means less people are buying bonds and bills. If they can’t raise money, then we’re really screwed.

  8. Ok, here’s an article (click my name) that explains what this is really all about. It acknowledges the possibility of inflation but explains why the situation is not so outrageous or simplistic as Bech puts it.

  9. Danny Rogers

    The bottom line is that everything that O’Bama is proposing is designed to push the United States further and further toward total government control (socialism). And this is another means of doing just that.

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