The Definition Of Insanity

... Is shown on the chart below, which compares indexed growth, or lack thereof, in G-5 GDP and compares it to consolidated central bank balance sheets. We bring this up because following this morning's announcement by the ECB's Praet that the European central bank may launch a round of QE (of questionable legality) it is only a matter of time before the red line really takes off and insanity hits truly unseen levels.

There is little to add to this except for the punchline from reformed QEaser Andrew Huszar, which was the following: "We were working feverishly to preserve the impression that the Fed knew what it was doing."

Pretty much says it all.

h/t @not_jim_cramer

Comments

[Buffalo Bones]

From the research I've done, it appears that the majority of the information presented about the history of the Federal Reserve in videos such as the "Zeitgeist" documentaries, especially the really juicy "conspiracy" red meat, is either slightly misleading or flat out wrong. It has occurred to me that this could be an effort to create a straw man to discredit those who realize the much more simple reality that there is no "grand conspiracy", just many powerful institutions and individuals acting in self interest through the tools of the Fed and the Ponzi that is fractional reserve banking.

I think it poisonous for the sound money movement (if there isn't one lets fucking start it!) to fall into these traps.

[Seer]

More likely it serves a distraction away from the FACT that it all hinges upon the utterly impossible premise of perpetual growth on a finite planet.  We are pretty much free to bash ourselves in the head about about most anything, but bring up "growth" and you're turned off.  We ALL are, it seems, part of the "growth conspiracy."  And those that "command" are able to do so by supporting themselves off of the growth: it's a great gig if you can get it- and, in most cases it comes handed down to you (which is why dynasties don't like "death taxes"- they threaten their continuance [and NO, I'm not PRO-taxation- I'm merely point out fact and the logical consequences of what we do and don't allow]).

[NOTaREALmerican]

Re:  the majority supported candidates who kept the goodies coming

+1000  absolute right.

[Seer]

Who else would like to join me in letting out a huge scream?

Budget Deficit in U.S. Narrows on Record Revenue for October

http://www.bloomberg.com/news/2013-11-13/budget-deficit-in-u-s-narrows-o...

The U.S. budget deficit last month narrowed more than economists forecast from a year earlier as rising employment contributed to the strongest October revenue on record.

[Stuck on Zero]

Insanity is accusing Central Bankers of doing the same dumb thing over and over again when in truth they are getting richer and richer.