No Nukes: How Three Mile Island was Disaster for Media Credibility

More than 30 years later, nuclear accident shows how media hype can make a bad situation far worse.


Media Research Center
By Julia A. Seymour

Tuesday, March 22, 2011

The massive earthquake and tsunami that rocked Japan on March 11 claimed many lives and knocked the Fukushima Daiichi nuclear plant offline reviving decades-old fears as well as liberal media bias about nuclear power.
The news media have promoted anti-nuclear positions since the Three Mile Island accident in 1979, although that incident did not injure or kill anyone and no long-term health impacts have been proven. At that time though, the frightening network coverage was "eerily similar" to the fictional Hollywood account of a nuclear disaster in a film released just days earlier: "The China Syndrome."


Three Mile Island was no "China Syndrome," yet some press outlets specifically sent reporters who had seen the film to cover the Harrisburg, Pa. nuclear accident, according to a PBS documentary.


Following the Japanese disaster, ABC's "Nightline" declared that "the new images from Japan have given the [California] doomsday earthquake scenario new urgency, with an added twist, the threat that a quake might be followed by a nuclear meltdown."


Like "Nightline" some recent reports have spread fear and worry concerning nuclear energy. CNN polled viewers on the question: "Should nuclear energy be a source of electricity?" Martin Bashir on MSNBC and others on ABC included left-wing anti-nuclear "experts" without noting their liberal perspective.



The U.S. gets roughly 20 percent of its power from 104 reactors providing nuclear energy, while many European countries like France rely on it much more. Despite the heavy reliance on nuclear power serious accidents are very rare.


Many of the recent news stories about Fukushima have mentioned Three Mile Island, the largest U.S. nuclear accident, especially after Japan's nuclear agency raised the accident level to 5 - the same level as the 1979 Pennsylvania accident but two levels lower than the Soviet's 1986 Chernobyl disaster.


Because of that it is important to remember the facts about what happened at Three Mile Island, rather than just the long-lasting media hype about the disaster and media bias against nuclear power. Despite very frightening news reports at the time of the accident and in years after, no one was hurt or killed and very little radiation was leaked.


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The financial scam of the century – In 2010 we added 600,000 millionaires while 5,000,000 people were added to the food stamp program. Wealthy derive profits from stocks while middle class hold most of their net worth in housing.

Part of the discontent roaming across America is that the economic recovery is targeted to a small portion of the population.  This part of the population controls most of the mainstream media channels so the working and middle class are wondering why isn’t the fact that food, college, health care, or many other day to day items with price increases fails to grace the media agenda? 

Have you ever heard the words “median household income” or “average income” grace the daily news tube?  The problem of course is that some are doing extremely well in our economy.  In fact the number of millionaires in the United States soared once again last year.  The number of millionaire households jumped to 8.4 million in 2010 increasing by 600,000 last year.  Now to contrast this rise in millionaires in 2010 we added 5,000,000 Americans to the national food stamp program. 

The income inequality gap is only getting more pronounced here.  A rising sea is not lifting all ships because many of the reasons for wealth building (i.e., corporations cutting costs to boost profits) directly impacts the working and middle class who own very little in stock.  Yet the stock market going up over 100 percent from the March 2009 lows has helped the top 1 percent that control 42 percent of all financial wealth.

Millionaires grow with stock market

Source:  Wall Street Journal
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United Nations Nuclear Bank

Cassandra Anderson
Infowars.com
March 24, 2011
The media hailed Warren Buffett last December for donating $50 million dollars toward a United Nations nuclear bank with control over uranium enrichment.  The intent is control over nuclear weapons and nuclear power by the elites who are the true forces behind the UN.

Warren Buffet

The UN nuclear bank is will be under the authority of the International Atomic Energy Agency (IAEA), which is NOT independent; it was created through a UN treaty and answers to the UN and the UN Security Council.  The fully funded UN nuclear bank does not require nations to stop uranium enrichment, which was the original plan; however, the final terms have not been set.  The fuel bank will sell enriched uranium for power plants to countries in “good standing“.  Therefore, only countries who kow-tow to the UN and IAEA will be provided with enriched uranium.

The United Nations is a supranational entity that answers to no one.  After WWII, the UN was sold to the public as an voluntary collection of nations committed to peace and ending war.  The UN pretends to vote on issues democratically, but its true goal is a totalitarian world government ruled by the elites at the top.  They are happy to bully countries and go to war over resources, as evidenced by the UN resolution last week to attack Libya.  They claim that war is necessary for peace.

The UN nuclear bank will consolidate power under the UN for nuclear energy and weaponry, which is another piece of UN Agenda 21, the blueprint for total control and depopulation.
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'Severe Threat': Deficit May Spark Crisis That Dwarfs 2008 Meltdown

Moneynews.com
By Forrest Jones

The gaping deficits are threatening the economy to the point they can no longer be ignored by anyone in government and may lead “to a crisis that could dwarf 2008," 10 former members of the President’s Council of Economic Advisers write in an open letter published by Politico.

The letter, written by former chairmen and chairwomen of the council serving both Republican and Democratic administrations, say recommendations by budget watchdogs Erskine Bowles and Alan Simpson arguing that the long-run federal budget deficit will pose a serious threat to the economy need much more attention from both political parties. Bowles and Simpson co-chaired the White House’s deficit-reduction commission in 2010.

The nonpartisan Congressional Budget Office in January raised its estimate for the annual deficit from $1.1 trillion to $1.5 trillion. It said the tax cuts would add $400 billion to this year's gap. The budget year ends Sept. 30.

The full-year deficit would exceed 2009's record deficit of $1.41 trillion. And it would mark the third straight year of $1 trillion-plus deficits.

Erskine Bowles (left) and Alan Simpson

"There are many issues on which we don’t agree. Yet we find ourselves in remarkable unanimity about the long-run federal budget deficit: It is a severe threat that calls for serious and prompt attention," the authors write in the letter addressing Congress and President Barack Obama.

"While the actual deficit is likely to shrink over the next few years as the economy continues to recover, the aging of the baby-boom generation and rapidly rising healthcare costs are likely to create a large and growing gap between spending and revenues. These deficits will take a toll on private investment and economic growth."

Lenders, the authors point out, will run out of patience with Washington's spending spree.

"At some point, bond markets are likely to turn on the United States — leading to a crisis that could dwarf 2008."
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New-Home Sales Plunged in February to Record Low

CNS News.com

Wednesday, March 23, 2011
By Derek Kravitz, Associated Press

Washington (AP) - Sales of new homes plunged in February to the slowest pace on records dating back nearly half a century, a dismal sign for an already-weak housing market.

New-home sales fell 16.9 percent last month to a seasonally adjusted annual rate of 250,000 homes, the Commerce Department said Wednesday. It's the third straight monthly decline and far below the 700,000-a-year pace that economists view as healthy.

New-home sales now account for just 5 percent of total home sales so far this year. They typically represent closer to 15 percent in healthier housing markets. There were just 186,000 new homes available for sale in February, the lowest inventory in more than four decades.

The median price of a new home dropped nearly 14 percent to $202,100, the lowest since December 2003. The median is now 30 percent higher than the median price of resold homes - twice the typical markup.
In response, homebuilders are cutting their selling prices and building more inexpensive homes, pushing down sales prices. They are struggling to compete with a wave of foreclosures, which has lowered the price of previously occupied homes. High unemployment, tight credit and uncertainty over prices have also kept many potential buyers from making purchases.

"Falling housing prices of existing homes are robbing demand for new houses and until that changes, the housing market will be in trouble," said Yelena Shulyatyeva, an analyst at BNP Paribas.
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Tate: Fed Policy Stunts Growth, Keeps Unemployment High

Moneynews.com
By Greg Brown and Ashley Martella

Washington and the Federal Reserve have it 180-degrees wrong, says longtime developer and housing-finance expert Stanley Tate. He says current policy is keeping the banks from lending money, stunting growth and keeping unemployment high.

The “book economists” at the central bank are doing damage to the housing market, which Tate believes has already bottomed and could grow strongly if only banks would start lending. He said Federal Reserve Chairman Ben Bernanke is doing a "terrible job" and his policies are wrong.

“There’s more money available in the banking industry than ever in the history of the United States,” Tate tells Newsmax.TV. Tate was CEO of the Resolution Trust Corporation in the Clinton era. Today he runs Tate Capital Real Estate Solutions, a private real-estate fund.

“The difficulty is that they’re not lending it to where it should be. None of it is being lent to new businesses, none of it is being lent to housing, none of it is being lent to anything that would constitute job opportunities. That’s one of the reasons unemployment is at a high level.”

Story continues below video.



The prevailing idea at the Fed has been to create trillions of new dollars, using some of that money to buy up Treasury bonds in hopes of keeping rates lower than the free market might otherwise set.

Simultaneously, the Fed has been paying banks to leave the money in their accounts at the Fed, providing the banks with liquidity but not necessarily the economy.

The result, so far, has been a low interest rate but also extremely limited private lending. Tate says that the answer is to let the market take back over. That likely would lead to higher rates sooner.

“I believe if interest rates rise, you’re going to get an increase in the recovery. And that’s because you’re going to get the lender, the banks, more interested in lending to developers and builders who are building new product,” Tate says.
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House Foreign Affairs Chairman: U.S. Must Withdraw from U.N. Human Rights Council

CNSNews.com
Tuesday, March 22, 2011
By Patrick Goodenough

Rep. Ileana Ros-Lehtinen (R-Fla.) (AP Photo)

(CNSNews.com) – The chair of the U.S House Foreign Affairs Committee said Monday she will introduce legislation that makes U.S. funding for the United Nations contingent on reform. It also calls for the U.S. to withdraw from the Human Rights Council.

Describing the Obama administration’s attempts to reform the HRC as a failure, Rep. Ileana Ros-Lehtinen said the U.S. should quit the HRC and “explore credible, alternative forums to advance human rights.”
The Florida Republican’s statement came as the Geneva-based HRC began the final week of a month-long session in which it will adopt up to six resolutions condemning Israel.

The disproportionate attention given by the 47-member HRC to Israel was one of the main reasons cited by the Bush administration for staying away from the council.

Ros-Lehtinen’s comments on the HRC formed part of a broader statement announcing her intention to introduce a revised version of a bill she first put forward in 2007.

“Its fundamental principle will be ‘reform first, pay later,’” she said in a statement Monday. “I hope that my colleagues on both sides of the aisle will partner with me on this important issue. Fixing the U.N. is a vital American interest.”

Ros-Lehtinen outlined four lessons she said were learned from previous reform efforts – money talks; U.S. leadership matters; don’t settle for cosmetic changes; don’t cite good U.N. activities to justify bad ones.
“I am not interested in tearing down the U.N. or withdrawing the United States from that body,” she said. “I believe that we must focus on how to fix the U.N. to make it more transparent, accountable, and effective.”
When it comes to the Human Rights Council, however, Ros-Lehtinen implied it was beyond redemption.
“Israel is the only country on the council’s permanent agenda, while abuses by rogue regimes like Cuba, China, and Syria are ignored,” she said.
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Ralph Nader: Impeach Obama for Libya, Crimes

NewsMax.com

March 21, 2011

 

Consumer advocate Ralph Nader is calling for President Barack Obama's impeachment, saying he is responsible for war crimes in the Middle East, The Hill reports.

In an interview with the anti-war group Democracy Now!, Nader said Obama was as much a war criminal as former President George W. Bush.

"Why don't we say what's on the minds of many legal experts; that the Obama administration is committing war crimes; and if Bush should have been impeached, Obama should be impeached," Nader said.

"[Bush officials] were considered war criminals by many people. Now, Barack Obama is committing the same crimes," the former presidential candidate said. "In fact, worse ones in Afghanistan. Innocents are being slaughtered, we are creating more enemies, he is violating international law."
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Undeclared War Courtesy of the United Nations

Undeclared War Courtesy of the United Nations from The John Birch Society on Vimeo.

Special Trend Alert: The 1st Great War of 21st Century Has Begun!

Gerald Celente
Trends Research
March 22, 2011

KINGSTON, NY 21 March 2011 — It is a bad science fiction movie written by mad political scientists.
Exactly eight years to the day that President George W. Bush took America and his “Coalition of the Willing” to war with Iraq, President Barack Obama has taken America and his “Broad Coalition” to war with Libya.
And just as the world was sold a “coalition of the willing” that was predominantly a fleeting alliance of the cajoled and the arm-twisted, the putatively “broad” Obama coalition consists primarily of America’s two cronies-in-war, the UK and France.

Only in a mad political science fiction movie could a President engaged in perpetuating two unjust, immoral, interminable and expensive wars begun by his predecessor, take his nation into yet another unjust, immoral, expensive and, in all likelihood, interminable war … and expect a happy ending!

Eight years of war in Iraq and 11 in Afghanistan has resolved nothing and served only to inflame anti-American sentiment around the world, drain the US treasury, kill and wound hundreds of thousands, if not millions, of innocent people and destroy the lives, limbs and souls of thousands of American troops.
Batting zero on the battle field, the mad political scientists have stepped up to the plate again. Despite nothing but failure, President Obama has decided, unilaterally, to squander still more American men and money in a war on Libya, promising that this time he won’t strike out.

In what could be a casting call for a mad sci-fi movie starring the Three Stooges, America’s newest Decider-in-Chief fights from the safety of the Oval Office while his equally battle-unscarred and chicken-hearted French and British counterparts, Nicolas “Sarko the American” Sarkozy and David (Eton/Oxford, what else?) Cameron lead the charge from the plush distance of the Palais de l’Élysée and 10 Downing Street.
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Federal Reserve and the opaque banking syndicate

MyBudget360.com

The Federal Reserve is one giant black box of financial mysticism in our economy.  At least that is what the Fed wants the public to think so it can remain shrouded in mystery.  Since the crisis slammed our economy and the bailouts started in mass, calls for greater Federal Reserve transparency have been echoed in a non-partisan voice. 

The protectors of the Fed are largely part of the banking syndicate that have used this institution as one giant washer machine to recycle taxpayer money and convoluted the true intent of the original bailouts.  Some in the public seem to think that the bailouts have all been repaid and suddenly the economy is back on even footing.  Nothing can be further from the truth.  To the contrary, the digital printing press is humming at a feverish pitch but the mainstream media has failed to convey the biggest financial story in any meaningful way.  How can a multi-trillion dollar swindle occur with very little media scrutiny?  The media would rather focus on Dancing with the Stars or some other flavor of the day reality show instead of confronting the financial system that runs our economy.
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Globalists invading Middle East to Revive the Old Roman Empire: The fulfillment of Revelation - the Two Beasts and the Babylonian Whore

SIC SEMPER TYRANNIS!!!
Mark Matheny
March 22, 2011

President Obama has decided to listen to the commands of the UN and ignore the will of the American people in this latest "No-fly" resolution, and he has done it without congressional approval.

It is apparent  in the latest illegal act carried out by the Dictator in Chief -Barack Insane Obama- under the disguise of a "UN resolution" that both the United States and Europe are looking more like the "Oceania" of the Book 1984 By George Orwell.

Our "Ministry of Truth" ( the controlled Media), are now apparently under orders to put the "spin" on this latest aggression as something good and beneficial to the people of Libya, as "war is Peace" and "freedom is slavery" in our Orwellian world of today.

The countries mainly involved in the enforcement of the "No-Fly" resolution are the United States, Britain, and France.

Gaddafi's forces have been so far able to stand against the rebels in Libya, and apparently this is not something the Globalists want, so the No-Fly resolution has been cooked up as a way to "protect Libyan civilians", but in reality, this is being done to take away Gaddafi's ability to use aircraft against the rebel forces seeking to overthrow him.

While the President and Coalition forces are saying the intent of the resolution is not to overthrow Gaddafi, it is apparent from the Neo-cons that this is certainly the true reason for the action.

In this attempt by the Global Elite to reshape the Middle East with an Islamic Extremist element in control of the current countries in turmoil, i.e., Egypt, Tunisia, Libya,etc. it seems that the goal will be to to further drive up oil prices, while keeping America bogged down in perpetual war and debt.

The UN seems to be all the while, gaining more power and prominence on the world stage. The emergeance of  the "New World Order" is being shaped right before our very eyes.

If you believe the book of revelation, then you might be seeing what I have seen for years:

The Beast from the Sea , Revelation 13: 1-10 - This is the Revival of the Roman empire, and the countries currently in turmoil in parts of Africa and the Middle East need to come under control of the UN to complete the revival of this Empire/Beast system. (Notice that France and Britain are included in this Map of the Ancient Roman Empire).

TUNISIA, LIBYA, EGYPT, IRAQ, BAHRAIN, YEMEN, AFGHANISTAN

The Beast from the earth Revelation 13: 11-18 - This is the United States of America, in that they have "two horns" of a lamb, but speak as a dragon, known as the left-right paradigm this is the two party system of the Dem/Pub Parties. And the U.S. was the first to drop the Atomic bomb, making fire "come down from heaven in the sight of men". The U.S. architecture is modeled after the Roman architecture, and so is our form of government. This is the "image" of the first beast (Roman Empire).



U.S. Capital



<><><><><><><><><><><><><><><><><><><> 

<><><><><><><><><><><><><><><><><><><> 

Vatican



U.S. Capital with reproduction of Egyptian Obelisk

Vatican with Egyptian Obelisk imported from Egypt





Of course, controlling both of these beasts, is a "woman".



Woman Riding the Beast Revelation 17:1-9,18 - This is the Vatican Church. She is the counterfeit Bride who tries to portray herself as the true heir to the Eternal kingdom of Heaven. The Vatican sits upon the revived Empire currently, on seven hills. She is decored in Scarlet and precious gems. (The Vatican is one of the richest institution on earth).
She is "that great city, which reigns over the kings of the earth." - Revelation 17:18

The last piece of their puzzle will be for the Arab countries and the Beast to destroy Israel- Psalm 83:

¹ O God, do not remain silent;
   do not turn a deaf ear,
   do not stand aloof, O God.
² See how your enemies growl,
   how your foes rear their heads.
³ With cunning they conspire against your people;
   they plot against those you cherish.
⁴ “Come,” they say, “let us destroy them as a nation,
   so that Israel’s name is remembered no more.”

 ⁵ With one mind they plot together;
   they form an alliance against you—
⁶ the tents of Edom and the Ishmaelites,
   of Moab and the Hagrites,
⁷ Byblos, Ammon and Amalek,
   Philistia, with the people of Tyre.
⁸ Even Assyria has joined them
   to reinforce Lot’s descendants.^[b]

(These may be the ten horns that give their power to the Beast for a short time - Revelation 17: 10-13)

 ⁹ Do to them as you did to Midian,
   as you did to Sisera and Jabin at the river Kishon,
¹⁰ who perished at Endor
   and became like dung on the ground.
¹¹ Make their nobles like Oreb and Zeeb,
   all their princes like Zebah and Zalmunna,
¹² who said, “Let us take possession
   of the pasturelands of God.”
 ¹³ Make them like tumbleweed, my God,
   like chaff before the wind.
¹⁴ As fire consumes the forest

   or a flame sets the mountains ablaze,

¹⁵ so pursue them with your tempest

   and terrify them with your storm.

¹⁶ Cover their faces with shame, LORD,

   so that they will seek your name.

 ¹⁷ May they ever be ashamed and dismayed;

   may they perish in disgrace.

¹⁸ Let them know that you, whose name is YAHWEH—

   that you alone are the Most High over all the earth.





Food contamination fears spread beyond Japan's borders

World health officials warn of the dangerous cumulative effects from eating food contaminated by radiation leaking from Japan's crippled nuclear plant. One Japanese restaurant in Taiwan is serving up radiation gauges alongside its meals.

By Victoria Kim

Los Angeles Times

March 21, 2011

Concern over food contaminated by radiation from areas surrounding the troubled nuclear plant in Fukushima spread beyond Japan's borders Monday morning with world health officials warning of the potential dangers posed by the tainted food and one Japanese restaurant in Taiwan serving up radiation gauges alongside its meals.

World Health Organization officials told reporters Monday that Japan should act quickly to ban food sales from areas around the damaged nuclear plant, saying radiation in food is more dangerous than radioactive particles in the air because of accumulation in the human body.

"Walking outside for a day and eating food repeatedly are two different things. This is why they're going to have to take some decisions quickly in Japan to shut down and stop food being used completely from zones which they feel might be affected," WHO spokesman Gregory Hartl said, according to the Associated Press.

In a Q&A on its website, the organization advised that consuming food tainted with radioactive material, while indistinguishable to the naked eye, could lead to an increased likelihood of certain cancers. People living near the plant who may have consumed produce or animal products with radiation should seek medical attention, the organization said.

Japanese officials said over the weekend that higher-than-normal levels of radiation had been detected in milk, spinach and some water supplies from regions surrounding the nuclear plant damaged by the earthquake and tsunami. Officials have banned the sale of some food items at risk of contamination and advised residents of a village northeast of the plant not to drink tap water.

The spreading alarm has led to government officials and others in neighboring nations to increase scrutiny of produce coming from Japan.
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Japan’s Nuclear Crisis Debacle and the Depopulation Agenda

Ethan Jacobs, J.D.
Infowars.com
March 21, 2011

Is it possible that the radiation released from Japan’s Fukushima Daiichi nuclear plant is intended to sicken and harm the populations of Japan, Hawaii and the United States?   There is evidence that suggests that the disaster fits neatly into the globalists’ well-documented plan to significantly reduce the world’s population.



The Fukushima Nuclear Crisis
After experiencing a devastating earthquake, resulting tsunami and leaking nuclear reactors, the Japanese government’s priority is not in saving lives and rebuilding Japan’s infrastructure, but rather saving a financial asset of Tokyo Electric Power Company (the nuclear facility) at the expense of the health and safety of the entire Northern Hemisphere.  It has been over a week since Fukushima Reactor 3 exploded releasing deadly radiation. Reactor 4 is known to be leaking as well. 

Nonetheless, the Japanese government still has not covered the reactors with concrete and sand to stop the radiation leak, as was eventually done at Chernobyl.   The leaking reactors could have been covered and sealed in a matter of days if not hours using aircraft to drop tons of sand and concrete around the clock.  Instead, Japan continues the risky venting of radioactive gas to relieve a new spike in pressure in its troubled nuclear reactors.

While the initial damage to the nuclear plant could be attributed to the Tsunami that devastated Japan (a natural event assuming that HAARP or other technology was not involved), the lack of government action to protect the public demonstrates extreme incompetence of Japanese Prime Minister Naoto Kan, if not malice.
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MSNBC - Banksters & Government Exposed FINALLY by Mainstream News!

Dylan Ratigan Show
March 18, 2011

Courtesy of MSNBC

FAIR USE NOTICE: This video may contain copyrighted material. Such material is made available for educational purposes only. This constitutes a 'fair use' of any such copyrighted material as provided for in Title 17 U.S.C. section 106A-117 of the US Copyright Law.

QE is the End of America as We Know It

The Paper Empire
March 21, 2011

Each time we begin to approach the end of an announced QE period, the nervous jitters of financial markets start to set in. Will Bernanke continue with QE (n+1) or won’t he? Now it’s true that professional traders live and die by their ability to front run rumor and perception, but for long term investors who fret over such decisions, it demonstrates a fundamental lack of understanding of what QE really is. To put it succinctly, QE is an economic deal with the Devil. Once it is begun in earnest there can be no turning back. It must be played to its ultimate conclusion.



In Bernanke’s 2009 interview on 60 Minutes, he suffered a momentary lapse into honesty and stated that Quantitative Easing was effectively money printing. So why then the complicated euphemism of Quantitative Easing? Because that is what modern central banking sponsored economics is all about – the intentional obfuscation of otherwise simple economic principles to cause the eyes of normal people to glaze over. Once accomplished, the central bankers (and their financial community brethren) are able to pursue policies that greatly benefit themselves but are devastating to everyone else.

Long term investors who worry about whether QE will continue clearly recognize the fact that everything is now correlated to the Fed’s balance sheet. What they don’t understand is how QE is related to the larger economic cycle and its mission of preventing economic recessions.

Keeping the tent inflated
Sometimes physical analogies are the most helpful in understanding complex relationships. Let’s think of the economy as a large inflated tent. The extent of the tent’s inflation is the health of the economy. Under normal economic conditions the tent is fully inflated. In the course of time, events take place that cause the need for a correction to the economic system. New technology can come along which obsoletes old industries, bad investments and debt must be liquidated etc. When this happens a free market economy will correct itself. Capital tied up in failed industries will be reallocated and invested in new businesses. New jobs will ultimately be created and people will go back to work. Of course this reorganization takes place over time and this is what a recession is – a healing process for the economy. In our tent we can think of this as a tear that forms in the fabric. While this hole is being repaired, air escapes and the tent begins to sag a little. The extent of the drooping is the extent of the recession. Once fixed, the tent and the economy go back to normal.

QE is a wholly different method of keeping the tent propped up. It does not repair the hole, but rather attempts to keep the tent inflated by pumping more air in than is escaping through the hole. This is the new money being created and pushed into the economy to offset the credit destruction in the banking system. This is a dynamic process that must be maintained. The catch is that the hole doesn’t just stay a fixed size. The tear begins to lengthen allowing greater amounts of air to escape. The economic tent begins to sag until the volume of air being pumped in is increased to overcome the outflow. This is why QE can never end. To stop now, with such a large hole, would result in a severe and frightening recession. The tent would lose a tremendous amount of air in the time it takes to make such an extensive repair.
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