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Printing for you...
That's me, I'm printing for you...
Ta-per-ing's long ov-er-due...
Love doing printing for you...
I do!
The new chairman of the Federal Reserve, Janet Yellen, decided to hire a cheap songwriter to write another new song about the "quantitative easing" monetary policy, which involves printing unlimited amounts of money to relieve bad debt and thus "stimulate" the economy. She was one of the chief architects.
Unfortunately the songwriter stole the words and music from an existing song, highlighting the fact that printing money is bad policy for our Nation's children, who will have to pay for it all.
In May 2013, Federal Reserve Bank of Dallas President Richard Fisher said that cheap money has made rich people richer, but has not done quite as much for working Americans. Most of the financial assets in America are owned by the wealthiest 5% of Americans. According to Fed data, the top 5% own 60% of the nation's individually held financial assets. They own 82% of individually held stocks and over 90% of individually held bonds.
Professor Allan Meltzer points out that more than 95 percent of the reserves that the Fed supplied under QE2 and QE3 sit idle on bank balance sheets. That money is not circulating through the economy.
But let's not think about that. Sing along, because the unelected head of the Federal Reserve is printing - printing for you.
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Grover: Printing for you
That's me, I'm printing for you
Ta-per-ing's long ov-er-due
Love doing printing for you
I do!
I'm printing for you
You see I'm printing for you
Yay, me I'm happy to be
Just printing for you
Herry Monster: Me too!
I'm printing for you
I'm oh so printing for you
No bor-rowed dol-lars will do
Not when I'm printing for you
Grover: It's true
He's printing for you
Herry Monster: All over?
Grover: printing for you
Herry Monster: Not over...
Grover and Herry Monster: Look at us two
We're printing for you
printing for you
Herry Monster: For you
Grover: I'm printing
Grover and Herry Monster: printing for you
Grover: For you
Herry Monster: He's printing
Grover and Herry Monster: How do you do?
We're printing for you
Cookie Monster: Yoo-hoo!
printing for you, me said me printing for you
For-get the bal-ance sheets grew
That right, me printing for you
Grover, Herry Monster and Cookie Monster: Me too!
We're printing for you
Yippee, we're printing for you
We three, oh, don't you wish you were printing for you?
Frazzle: {grumbling}
Grover: [Frazzle, you are not printing for you
You are printing and Q-E.]
Frazzle: {grumbling}
Grover: [All right, all right; just thought I'd mention it
Hit it boys!]
All: printing for you (Q-E)
We all are printing for you (Q-E)
Love doin' printing for you (Q-E)
Whatever we do ...
Herry Monster: Is everybody printing?
All: printing for you
We're printing for you.
Cookie Monster: All this talk of printing for you make me hungry for blanket
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