Fox News - Economic Acopalypse

tirano

First minute or so is an advert, worth watching to see the scale of money being printed in USA, must be similar in UK

http://www.foxnews.com/video2/video08.html?maven_referralObject=3479955&maven_referralPlaylistId=&sRevUrl=http://www.foxnews.com/glennbeck/

Masomnia

Good old reactionary fox news, evil liberals are destroying the world... same rant different day.

I can't take him seriously, sorry.

Rochdale_Pioneers

tirano wrote: »

First minute or so is an advert, worth watching to see the scale of money being printed in USA, must be similar in UK

Not yet. We haven't printed a single additional pound. Yet.

purch

Acopalypse

Every FOX News bulletin starts with some Acopalypse or other !!!!

Not yet. We haven't printed a single additional pound. Yet

The Special Asset Purchase Facility (or whatever it's called) that the Bank will start on Monday, allows them to purchase Corporate Bonds, Commercial Paper, Syndicated Loans, a range of asset-backed securities as well as paper issued under the Government's existing guarantee scheme, which was introduced last year. The asset purchases will be restricted to high grade instruments and the amount available will be £50 billy's.

The funding for this will come from the sale of Treasury Bills, so in this sense the purchases will not derive from the 'printing of money'

This is also the case with the similar activities undertaken by the Fed and BOJ

But I guess it's easier to believe the 'dumbed down' bollox reported by Fox !!!

Rochdale_Pioneers

No, as I understand it the Fed actually are printing more money to increase M0

vivatifosi

It's the way that Fox analysts refers to the Democrats as the 'far left' that cracks me up. I know that this is common practice among Neocons and not just a Fox trait but it still makes you wonder of what they'd make of a real far-left regime.

mymatebob

Fox News - is that not an oxymoron?

StevieJ

Masomnia wrote: »

Good old reactionary fox news, evil liberals are destroying the world... same rant different day.

I can't take him seriously, sorry.

It's the Septic Sun :eek:

purch

see the scale of money being printed in USA, must be similar in UK

No....it's a thick red line on a big TV screen, and some numb nutz saying "Look at all this money !!!!"

Means nothing...no context...no scale, just a thick red line that could show anything and correlates to nothing.

P.S. I'm gonna go buy me some of that Samsung stuff the fat girl was pimping !!!!

Cannon_Fodder

The Financial Industry around large parts of the Globe;
The Governments, Treasury Departments and multitudinous Quangos of a variety of countries;
And a host of supposedly informed, trained and well-educated economists;

ALL have something in common.


WITH scale, context, correlations, and despite deep analysis of meanings;

They ALL failed to prevent this problem arising.


So, not just for Joe Public, but for all of the above groups, its not such a bad idea to keep it simple, for once.

I'm sure the vested interests will already be saying that "its just not that simple", "you have to factor X in" etc etc, but that is exactly the point, as they got TOO convoluted for their own, and more importantly, our good.

Now everyone is going to be paying for their mistakes.

Maybe Fox are not the best medium, but are they factually incorrect ?

http://www.nytimes.com/2008/12/28/weekinreview/28goodman.html?_r=1&scp=1&sq=printing%20money&st=cse
"Since late August, the Fed has expanded its balance sheet from about $900 billion to more than $2.2 trillion, creating $1.3 trillion that did not exist..."



(ps. there is a scale; big thing on the left of screen from -500 to +2000 billions)

Sir_Humphrey

My God, I thought this board was going a bit loopy when Daily Wail articles started to be posted all the time, but Fox News?!?