Ruminations on the Fed, the Dollar, ZIRP, QE and Math vs Magic - Hey, Even Harry Potter Has Problems...
More on this topic...
Here's proof, pulled off of the St. Loius Fed's site, and espoused in front of the actual entrance to the NY Fed.
Much Of The Developed World Prints Today, But Where's The Wealth? Real Value Of Risk Assets Continue To Plunge!
Yesterday, I posted The Difference Between Money and Wealth and Why You Can Easily Print One But Must Actually Create The Other, and as if on cue, global inkjet nozzles 'round the world started whizzing - to wit:
- ECB Cuts Rate to Record Low of 0.75%, Deposit to Zero and Bank of England Prints Money Again to Boost Economy
- China Cuts Rates for Second Time in Month and China Set to Post Worst Growth Since 2008 Crisis
- BOE Restarts QE Amid Euro Crisis
Those damn rating agencies...
Of course, we all know how reliable and timely the rating agencies are, right? See Rating Agencies vs Reggie Middleton, Part 3 and the Interesting Documentary on the Power of Rating Agencies, with Reggie Middleton Excerpts