Utopia Talk - Politics - Another $480.000,000,000 A Year

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Utopia Talk / Politics / Another $480.000,000,000 A Year

Hot Rod
Revved Up Thu Sep 13 13:13:59

added to the money supply.

Fed to Spend $40 Billion a Month on Bond Purchases
By The Associated PressPosted 1:50PM 09/13/12

By MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) - The Federal Reserve unleashed a series of bold and open-ended steps Thursday to stimulate the economy by making it cheaper for consumers and businesses to borrow and spend.

The Fed said it will spend $40 billion a month to buy mortgage bonds for as long as it deems necessary to make home buying more affordable. It plans to keep short-term interest rates at record lows through mid-2015 - six months longer than previously planned. And it's ready to take other unconventional steps if job growth doesn't pick up.

A statement from the Fed's policy committee said it thinks "a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens."

The committee announced the series of aggressive actions after a two-day meeting. Its moves pointed to how sluggish the economy remains more than three years after the Great Recession ended.

Stock prices rose on the news. But some economists said they thought the benefit to the economy would be slight.

"We doubt it will be enough to get the economy on the right track," said Paul Ashworth, an economist at Capital Economics. "It's only a matter of time before speculation begins as to when the Fed will raise its purchases from $40 billion a month."

The Dow Jones industrial average rose nearly 100 points shortly after the announcement at 12:30 p.m. Eastern time. The dollar dropped against major currencies. And the price of gold shot up about $16 an ounce, roughly 1 percent, to $1,750.

The statement was approved on an 11-1 vote. The lone dissenter was Richmond Fed President Jeffrey Lacker, who worries about igniting inflation.

The Fed's bond purchases have been intended to lower long-term rates to spur lending. The Fed has previously bought $2 trillion in Treasury bonds and mortgage-backed securities since the 2008 financial crisis.

Skeptics caution that further bond buying might provide little benefit. Rates are already near record lows. Critics also warn that more bond purchases raise the risk of higher inflation later.

Still, some economists suggested that the Fed might continue to buy $40 billion a month in mortgage bonds for up to three years. That's how long some analysts expect it will take for the unemployment rate to dip below 7 percent, toward a "normal" rate of 6 percent or less. The rate is now 8.1 percent.

If the new bond buying lasts three years, Ashworth said it would add about $1.4 trillion to the Fed's purchases. That would be close to the $1.7 trillion the Fed spent in its first round of bond buying. That began in November 2008, at the height of the financial crisis, and ran until March 2010.

The Fed's second bond-buying program totaled $600 billion. It ran from November 2010 through June 2011.

With less than eight weeks left until Election Day, the economy remains the top issue on most voters' minds. Many Republicans have been critical of the Fed's continued efforts to drive interest rates lower, saying they fear it could ignite inflation.

The Fed is under pressure to act because the U.S. economy is still growing too slowly to reduce high unemployment. The unemployment rate has topped 8 percent every month since the Great Recession officially ended more than three years ago.

In August, job growth slowed sharply. Employers added just 96,000 jobs, down from 141,000 in July and well below what is needed to bring relief to the more than 12 million who are unemployed.

The unemployment rate did fall to 8.1 percent from 8.3 percent. But that was because many Americans stopped looking for work, so they were no longer counted as unemployed.

Fed Chairman Ben Bernanke spotlighted the problem of chronic high unemployment in a speech to an economic conference in Jackson Hole, Wyo., late last month. Bernanke argued that bond purchases and other unorthodox Fed actions had helped ease borrowing costs and boosted stock prices.

Higher stock prices increase Americans' wealth and confidence and typically lead individuals and businesses to spend more.

http://www...|dl2|sec1_lnk1%26pLid%3D205024

Pissflaps McGee
Member Thu Sep 13 13:15:34
$480 is nothing.

Aeros
Member Thu Sep 13 13:17:07
Fun thing about the Fed, not only can they put money into the system, they can take it back when they don't need it anymore.

Hot Rod
Revved Up Thu Sep 13 13:25:35

Close to a half trillion seems a lot to me.

Sure they can take it back if the borrower has it in their coffers.

WilliamTheBastard
Member Thu Sep 13 13:32:38
nimatzo, got any good definitions for "Liar"?

ehcks
Member Thu Sep 13 13:35:45
http://en.wikipedia.org/wiki/Pathological_lying

Pseudologia fantastica
From Wikipedia, the free encyclopedia
(Redirected from Pathological lying)
Jump to: navigation, search

Pseudologia fantastica, mythomania, or pathological lying are three of several terms applied by psychiatrists to the behavior of habitual or compulsive lying.[1][2] It was first described in the medical literature in 1891 by Anton Delbrueck.[2] Although it is a controversial topic,[2] pathological lying has been defined as "falsification entirely disproportionate to any discernible end in view, may be extensive and very complicated, and may manifest over a period of years or even a lifetime".[1]
Contents

1 Epidemiology
2 Characteristics
3 Pathological liars
4 See also
5 References
6 Further reading
7 External links

Epidemiology

Although little has been written about pathological lying, one study found a prevalence of almost 1 in 1,000 repeat juvenile offenders. The average age of onset is 16 years, and its occurrence was found by the study to be equal in women and men.[3] Forty percent of cases reported central nervous system abnormality[3] (characterized by epilepsy, abnormal EEG findings, head trauma, or CNS infection).[citation needed]
Characteristics

The defining characteristics of pseudologia fantastica are:

The stories told are not entirely improbable and often have some element of truth. They are not a manifestation of delusion or some broader type of psychosis: upon confrontation, the teller can admit them to be untrue, even if unwillingly.
The fabricative tendency is long lasting; it is not provoked by the immediate situation or social pressure as much as it is an innate trait of the personality.
A definitely internal, not an external, motive for the behavior can be discerned clinically: e.g., long-lasting extortion or habitual spousal battery might cause a person to lie repeatedly, without the lying being a pathological symptom.[2]
The stories told tend toward presenting the liar favorably. For example, the person might be presented as being fantastically brave, knowing or being related to many famous people.

Pseudologia fantastica may also present as false memory syndrome, where the sufferer genuinely believes that fictitious events have taken place, regardless that these events are fantasies. The sufferer may believe that he or she has committed superhuman acts of altruism and love or has committed equally grandiose acts of diabolical evil, for which the sufferer must atone, or has already atoned for in her/his fantasies.
Pathological liars

Lying is the act of both knowingly and intentionally/willfully making a false statement.[4] Most people do so out of fear.[5] Pathological lying is considered a mental illness, because it takes over rational judgement and progresses into the fantasy world and back.[6]

Excessive lying is a common symptom of several mental illnesses. For instance people who suffer from antisocial personality disorder use lying to benefit from others. Some individuals with borderline personality disorder lie for attention by claiming they’ve been treated poorly. [7] Pathological lying, on the other hand, can be described as an addiction to lying. It is when an individual consistently lies for no personal gain. The lies are commonly transparent and often seem rather pointless.[8]

There are many consequences of being a pathological liar. Due to lack of trust, most pathological liars' relationships and friendships fail. If the disease continues to progress, lying could become so severe as to cause legal problems, including but not limited to fraud.[9]

Psychotherapy appears to be one of the only methods to treat a person suffering from pathological lying. No research has been performed regarding the use of pharmaceutical medication to treat pathological liars.[10] Some research suggests that certain people may have a “predisposition to lying”.[11]

Pathological lying is a complex phenomenon, differing from other mental illnesses. It has many life-changing consequences for those who must live with the illness. Currently, there is not enough research in the area of pathological lying to guarantee a cure.[12]
See also

Baron von Münchhausen
Confabulation
Factitious disorder
Ganser's syndrome
Munchausen syndrome

References

^ a b Dike CC, Baranoski M, Griffith EE (2005). "Pathological lying revisited". The Journal of the American Academy of Psychiatry and the Law 33 (3): 342–9. PMID 16186198.
^ a b c d Dike, Charles C. (June 1, 2008). Pathological Lying: Symptom or Disease?. 25.
^ a b King BH, Ford CV (January 1988). "Pseudologia fantastica". Acta Psychiatrica Scandinavica 77 (1): 1–6. doi:10.1111/j.1600-0447.1988.tb05068.x. PMID 3279719.
^ Lying. (n.d.). Dictionary.com Unabridged. Retrieved September 26, 2011, from Dictionary.com website: http://dictionary.reference.com/browse/lying
^ Rowe, D. (2010). Why we lie: The Source of Our Disasters. New York: HarperCollins.
^ Dike, C., Baranoski, M., & Griffith, E. (2005). Pathological lying revisited. The Journal Of The American Academy Of Psychiatry And The Law, 33(3), 342-349. Retrieved from EBSCOhost.
^ Birch, S., Kelln, B. & Aquino, E. (2006). "A review and case report of pseudologia fantastica". The Journal of Forensic Psychiatry & Psychology 17 (2): 299-320.
^ Healy, M., & Healy, W. (2004). Pathological lying, Accusation And Swindling. Winnetka, Illinois: Kessinger Publishing.
^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost.
^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost.
^ Yang, Y., Raine, A., Narr, K., Lencz, T., LaCasse, L. Colleti, P., Toga, A. (2007, February). "Localisation of increased prefrontal white matter in pathological liars". British Journal of Psychiatry, 190, 174-175.
^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost.

Further reading

Hardie TJ, Reed A (July 1998). "Pseudologia fantastica, factitious disorder and impostership: a deception syndrome". Medicine, Science, and the Law 38 (3): 198–201. PMID 9717367.
Newmark N, Adityanjee, Kay J (1999). "Pseudologia fantastica and factitious disorder: review of the literature and a case report". Comprehensive Psychiatry 40 (2): 89–95. doi:10.1016/S0010-440X(99)90111-6. PMID 10080254.

I'm helping!

WilliamTheBastard
Member Thu Sep 13 13:47:39
thanks man, now this thread isnt completely useless.

Pissflaps McGee
Member Thu Sep 13 13:55:54
This thread is good fucking.

Cloud Strife
Member Thu Sep 13 15:39:10
With interest rates negative, and the economy begging for it, I've been wondering why the Fed didn't jump on the chance to improve the economy and make money doing it.

It really has baffled me.

show deleted posts

Hot Rod Revved Up	Thu Sep 13 13:13:59 added to the money supply. Fed to Spend $40 Billion a Month on Bond Purchases By The Associated PressPosted 1:50PM 09/13/12 By MARTIN CRUTSINGER, AP Economics Writer WASHINGTON (AP) - The Federal Reserve unleashed a series of bold and open-ended steps Thursday to stimulate the economy by making it cheaper for consumers and businesses to borrow and spend. The Fed said it will spend $40 billion a month to buy mortgage bonds for as long as it deems necessary to make home buying more affordable. It plans to keep short-term interest rates at record lows through mid-2015 - six months longer than previously planned. And it's ready to take other unconventional steps if job growth doesn't pick up. A statement from the Fed's policy committee said it thinks "a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens." The committee announced the series of aggressive actions after a two-day meeting. Its moves pointed to how sluggish the economy remains more than three years after the Great Recession ended. Stock prices rose on the news. But some economists said they thought the benefit to the economy would be slight. "We doubt it will be enough to get the economy on the right track," said Paul Ashworth, an economist at Capital Economics. "It's only a matter of time before speculation begins as to when the Fed will raise its purchases from $40 billion a month." The Dow Jones industrial average rose nearly 100 points shortly after the announcement at 12:30 p.m. Eastern time. The dollar dropped against major currencies. And the price of gold shot up about $16 an ounce, roughly 1 percent, to $1,750. The statement was approved on an 11-1 vote. The lone dissenter was Richmond Fed President Jeffrey Lacker, who worries about igniting inflation. The Fed's bond purchases have been intended to lower long-term rates to spur lending. The Fed has previously bought $2 trillion in Treasury bonds and mortgage-backed securities since the 2008 financial crisis. Skeptics caution that further bond buying might provide little benefit. Rates are already near record lows. Critics also warn that more bond purchases raise the risk of higher inflation later. Still, some economists suggested that the Fed might continue to buy $40 billion a month in mortgage bonds for up to three years. That's how long some analysts expect it will take for the unemployment rate to dip below 7 percent, toward a "normal" rate of 6 percent or less. The rate is now 8.1 percent. If the new bond buying lasts three years, Ashworth said it would add about $1.4 trillion to the Fed's purchases. That would be close to the $1.7 trillion the Fed spent in its first round of bond buying. That began in November 2008, at the height of the financial crisis, and ran until March 2010. The Fed's second bond-buying program totaled $600 billion. It ran from November 2010 through June 2011. With less than eight weeks left until Election Day, the economy remains the top issue on most voters' minds. Many Republicans have been critical of the Fed's continued efforts to drive interest rates lower, saying they fear it could ignite inflation. The Fed is under pressure to act because the U.S. economy is still growing too slowly to reduce high unemployment. The unemployment rate has topped 8 percent every month since the Great Recession officially ended more than three years ago. In August, job growth slowed sharply. Employers added just 96,000 jobs, down from 141,000 in July and well below what is needed to bring relief to the more than 12 million who are unemployed. The unemployment rate did fall to 8.1 percent from 8.3 percent. But that was because many Americans stopped looking for work, so they were no longer counted as unemployed. Fed Chairman Ben Bernanke spotlighted the problem of chronic high unemployment in a speech to an economic conference in Jackson Hole, Wyo., late last month. Bernanke argued that bond purchases and other unorthodox Fed actions had helped ease borrowing costs and boosted stock prices. Higher stock prices increase Americans' wealth and confidence and typically lead individuals and businesses to spend more. http://www...\|dl2\|sec1_lnk1%26pLid%3D205024
Pissflaps McGee Member	Thu Sep 13 13:15:34 $480 is nothing.
Aeros Member	Thu Sep 13 13:17:07 Fun thing about the Fed, not only can they put money into the system, they can take it back when they don't need it anymore.
Hot Rod Revved Up	Thu Sep 13 13:25:35 Close to a half trillion seems a lot to me. Sure they can take it back if the borrower has it in their coffers.
WilliamTheBastard Member	Thu Sep 13 13:32:38 nimatzo, got any good definitions for "Liar"?
ehcks Member	Thu Sep 13 13:35:45 http://en.wikipedia.org/wiki/Pathological_lying Pseudologia fantastica From Wikipedia, the free encyclopedia (Redirected from Pathological lying) Jump to: navigation, search Pseudologia fantastica, mythomania, or pathological lying are three of several terms applied by psychiatrists to the behavior of habitual or compulsive lying.[1][2] It was first described in the medical literature in 1891 by Anton Delbrueck.[2] Although it is a controversial topic,[2] pathological lying has been defined as "falsification entirely disproportionate to any discernible end in view, may be extensive and very complicated, and may manifest over a period of years or even a lifetime".[1] Contents 1 Epidemiology 2 Characteristics 3 Pathological liars 4 See also 5 References 6 Further reading 7 External links Epidemiology Although little has been written about pathological lying, one study found a prevalence of almost 1 in 1,000 repeat juvenile offenders. The average age of onset is 16 years, and its occurrence was found by the study to be equal in women and men.[3] Forty percent of cases reported central nervous system abnormality[3] (characterized by epilepsy, abnormal EEG findings, head trauma, or CNS infection).[citation needed] Characteristics The defining characteristics of pseudologia fantastica are: The stories told are not entirely improbable and often have some element of truth. They are not a manifestation of delusion or some broader type of psychosis: upon confrontation, the teller can admit them to be untrue, even if unwillingly. The fabricative tendency is long lasting; it is not provoked by the immediate situation or social pressure as much as it is an innate trait of the personality. A definitely internal, not an external, motive for the behavior can be discerned clinically: e.g., long-lasting extortion or habitual spousal battery might cause a person to lie repeatedly, without the lying being a pathological symptom.[2] The stories told tend toward presenting the liar favorably. For example, the person might be presented as being fantastically brave, knowing or being related to many famous people. Pseudologia fantastica may also present as false memory syndrome, where the sufferer genuinely believes that fictitious events have taken place, regardless that these events are fantasies. The sufferer may believe that he or she has committed superhuman acts of altruism and love or has committed equally grandiose acts of diabolical evil, for which the sufferer must atone, or has already atoned for in her/his fantasies. Pathological liars Lying is the act of both knowingly and intentionally/willfully making a false statement.[4] Most people do so out of fear.[5] Pathological lying is considered a mental illness, because it takes over rational judgement and progresses into the fantasy world and back.[6] Excessive lying is a common symptom of several mental illnesses. For instance people who suffer from antisocial personality disorder use lying to benefit from others. Some individuals with borderline personality disorder lie for attention by claiming they’ve been treated poorly. [7] Pathological lying, on the other hand, can be described as an addiction to lying. It is when an individual consistently lies for no personal gain. The lies are commonly transparent and often seem rather pointless.[8] There are many consequences of being a pathological liar. Due to lack of trust, most pathological liars' relationships and friendships fail. If the disease continues to progress, lying could become so severe as to cause legal problems, including but not limited to fraud.[9] Psychotherapy appears to be one of the only methods to treat a person suffering from pathological lying. No research has been performed regarding the use of pharmaceutical medication to treat pathological liars.[10] Some research suggests that certain people may have a “predisposition to lying”.[11] Pathological lying is a complex phenomenon, differing from other mental illnesses. It has many life-changing consequences for those who must live with the illness. Currently, there is not enough research in the area of pathological lying to guarantee a cure.[12] See also Baron von Münchhausen Confabulation Factitious disorder Ganser's syndrome Munchausen syndrome References ^ a b Dike CC, Baranoski M, Griffith EE (2005). "Pathological lying revisited". The Journal of the American Academy of Psychiatry and the Law 33 (3): 342–9. PMID 16186198. ^ a b c d Dike, Charles C. (June 1, 2008). Pathological Lying: Symptom or Disease?. 25. ^ a b King BH, Ford CV (January 1988). "Pseudologia fantastica". Acta Psychiatrica Scandinavica 77 (1): 1–6. doi:10.1111/j.1600-0447.1988.tb05068.x. PMID 3279719. ^ Lying. (n.d.). Dictionary.com Unabridged. Retrieved September 26, 2011, from Dictionary.com website: http://dictionary.reference.com/browse/lying ^ Rowe, D. (2010). Why we lie: The Source of Our Disasters. New York: HarperCollins. ^ Dike, C., Baranoski, M., & Griffith, E. (2005). Pathological lying revisited. The Journal Of The American Academy Of Psychiatry And The Law, 33(3), 342-349. Retrieved from EBSCOhost. ^ Birch, S., Kelln, B. & Aquino, E. (2006). "A review and case report of pseudologia fantastica". The Journal of Forensic Psychiatry & Psychology 17 (2): 299-320. ^ Healy, M., & Healy, W. (2004). Pathological lying, Accusation And Swindling. Winnetka, Illinois: Kessinger Publishing. ^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost. ^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost. ^ Yang, Y., Raine, A., Narr, K., Lencz, T., LaCasse, L. Colleti, P., Toga, A. (2007, February). "Localisation of increased prefrontal white matter in pathological liars". British Journal of Psychiatry, 190, 174-175. ^ Dike, C. (2008). Pathological lying: symptom or disease? Lying with no apparent motive or benefit. Psychiatric Times, 25(7), 67-73. Retrieved from EBSCOhost. Further reading Hardie TJ, Reed A (July 1998). "Pseudologia fantastica, factitious disorder and impostership: a deception syndrome". Medicine, Science, and the Law 38 (3): 198–201. PMID 9717367. Newmark N, Adityanjee, Kay J (1999). "Pseudologia fantastica and factitious disorder: review of the literature and a case report". Comprehensive Psychiatry 40 (2): 89–95. doi:10.1016/S0010-440X(99)90111-6. PMID 10080254. I'm helping!
WilliamTheBastard Member	Thu Sep 13 13:47:39 thanks man, now this thread isnt completely useless.
Pissflaps McGee Member	Thu Sep 13 13:55:54 This thread is good fucking.
Cloud Strife Member	Thu Sep 13 15:39:10 With interest rates negative, and the economy begging for it, I've been wondering why the Fed didn't jump on the chance to improve the economy and make money doing it. It really has baffled me.
	show deleted posts

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