The Phaserl


Bernanke Just Felt a Chill Down His Spine

by Graham Summers, Gains Pains & Capital:

In April 2013, Japan announced a QE program of $1.4 trillion, an amount equal to roughly 25% of the Japanese GDP. To put this into perspective, the US’s QE1, QE 2, QE 3, and QE 4 programs which were spaced out over four years are an amount equal to roughly 16% of US GDP.

Japan announced a larger program relative to its economy all at once. The idea was that by throwing around a big enough amount of money, Japan’s economy would finally waken from its 20-year slumber and take off.

This effort has been an abysmal failure. Japan’s second quarter GDP grew at just 0.6% quarter over quarter, registering the single biggest growth MISS in a year (economists were expecting 0.9% which, by the way had already been revised lower).

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5 comments to Bernanke Just Felt a Chill Down His Spine

  • mac

    Jap Puppets ordered to Buy USD? The bid was vanishing, eh? Only Ben at the Fed wants USD and US Bonds – or most of them, eh? Duh.

  • steelerdude

    You really gotta think about this one….because it truly is very very scary…..

    Japan poured all that money into the system….and nothing happened, its actually getting worse….

    Ben poured all that money into our system….and nothing has happened, and our financial system and economy is getting worse….

    You really got to start thinking about this….it paints a picture of doom to me….

    • SGT

      I concur steeler. When the paper Ponzi becomes so pronounced, one begins to see the possibilities of how one ounce of PHYSICAL silver could be worth $1,000 usd (or far more) in the future, as has been touted here and on the sites of other valued info providers.

  • Eric

    At least it wasn’t a tingle up his leg. 🙂

  • NaySayer

    It didn’t work because they didn’t give the money to people who would spend it into the american economy thus stimulating job creation and consumer spending.

    Whether we like it or not, the american economy is 70% consumer driven. But everybody is cutting back because they lost their jobs or fear losing their jobs.

    Ben gave that money to banks who then didn’t spend it, they sat on it. He gave it to corporations who used it to buy back their own stock in order to get their stock prices up so they could get their bonuses, even though actual sales & the health of the company went down. Their bonuses are tied to the stock price in most american corporations because usually the stock price going up shows that sales are up & the corporation is going better. But everybody is gaming the system.

    The rich got richer and the poor got poorer and more people fell out of the middle class into the poor. It might have worked for awhile if he had given the money to people who would have spent it into the economy. But he didn’t. He gave it to his elite friends and now he looks like a bigger idiot then he would have anyway.

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