Fed Links Rates to Joblessness, Expands Bond Purchases – Businessweek http://www.businessweek.com/news/2012-12-12/fed-boosts-qe-with-45-billion-in-monthly-treasury-purchases
“The conditions now prevailing in the job market represent an enormous waste of human and economic potential,” Fed Chairman Ben S. Bernanke said in a press conference in Washington today after a meeting of the Federal Open Market Committee.
As productivity continues to skyrocket thanks to folks like myself who create new ‘workers’ every day, the cumulative loss of potential skillsets for each percentage point of unemployed grows astronomically. If you think about a generation left behind because there is no work for them to do and to learn, you start to understand how great societies cam collapse. Which is to say…that cumulative loss is more than many countries and cultures can bear. There is a price for this path Ben Bernanke (and his team) have settled upon, and my main gripe here is telling people when the gravy train will end. The problem here is that when we start to get closer to the target, and thus end the cheap money train, certain market forces will attempt to intervene in order to keep that train running, if you will. If my metaphors have gotten a but too abstract here, please speak up and I’ll clarify.