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Fed Economist Unveils Cunning Plan To Boost US Economy: Issue Even More Debt
Every so often, the Minneapolis Fed's Narayana Kocherlakota likes to remind Congress that to the extent America has a problem with subpar economic growth, that problem can be solved with more debt. Of course all problems can be solved with more debt. That, as we put it a few months back, is an immutable truth, as critical to the pseudoscience of economics as Newton’s first law is to physics and we know it to be true because it’s propagated by one of the greatest economic minds in the history of the world: Paul Krugman.
But if the only place this finds expression is on Krugman’s New York Times blog then it won’t be much use when it comes to saving the world. Fortunately, there are central planners like Kocherlakota who are willing to turn Krugman-isms into policy.
Back in July, in remarks ironically prepared for delivery at a conference hosted by the Bundesbank, Kocherlakota noted that in order to lift the neutral rate, US lawmakers might want to consider issuing more debt. Translated from ‘economist’ to layman, that just means this: “we may need to ease again and we’re bumping up against the lower bound on the rate cut side and we’ve run out of monetizable assets on the QE side.”
Kocherlakota was quick to note that he wasn’t attempting to tell Congress what to do, he was only dropping subtle hints about what might happen to still-depressed aggregate demand if the Fed doesn’t have enough rope to do more of the things which have so far failed miserably when it comes to boosting said demand:
“I am not saying that it is appropriate for fiscal policymakers to increase the long-run level of public debt. I am simply pointing to one benefit associated with such an increase: It allows the central bank to be more effective in mitigating the impact of adverse shocks to aggregate demand."
That was in Frankfurt where we can only assume that if Wolfgang Schaeuble was in attendance he may have had a conniption fit and now, exactly two months later, Kocherlakota is at it again, this time in remarks prepared for a speech at Northwestern. Here’s Reuters:
A top U.S. Federal Reserve official on Tuesday floated a potentially controversial proposal to help keep America's economy more stable: The federal government could issue more debt.
Narayana Kocherlakota, president of the Minneapolis Fed, said bond market data suggests that the ideal inflation-adjusted rates of interest in the U.S. economy have fallen in recent decades.
This is important because it means the Fed's own target for interest rate policy will tend to be lower, raising the risk that the Fed finds itself in a situation where it would like to slash rates but can only cut them modestly before hitting the "zero lower bound."
Near-zero rates also raise the risk of encouraging people to over borrow, setting up instability in the form of financial booms and busts.
"Younger workers (and those who are yet to be born) have to pay the taxes to fund this extra debt issuance," he said, adding that "balancing these gains versus losses is clearly a job for the fiscal authority, not for monetary policymakers like me."
"I am simply pointing to two key benefits associated with such an increase," Kocherlakota said, referring to more effective monetary policy and less risk of financial instability.
Got that? We'd me remiss if we didn't spell out precisely why Kocherlakota's argument is so absurd.
It is of course the Fed's misguided attempts to use monetary policy to micromanage economic outcomes (i.e. "smooth out the business cycle") that are leading to the more frequent occurences of spectacular booms and busts. In other words, they aren't smoothing out the business cycle, they're making it immeasurably more unpredictable. The FOMC's latest and greatest foray into central planning the economy has now created what will likely be viewed in hindsight as some of the greatest speculative bubbles ever witnessed, and part and parcel of this monumental folly is ZIRP. Now, Kocherlakota is trying to argue that because the Fed's own policies (which, again, are designed to eliminate instability by smoothing out the business cycle) have put it at the zero lower bound, the US government should print more debt in an effort to boost the neutral rate to give the FOMC more room to do more of the very same things they just did, things which, by Kocherlakota's own admission, have "raised the risk of encouraging people to over borrow, setting up instability in the form of financial booms and busts" and which by virtually any measure one cares to look at, have done a poor job of boosting inflation expectations and aggregate demand.
This is the Einstenian insanity employed by those who control the fate of the financial universe. Be afraid. Be very afraid.
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I kept putting on more credit card debt, then I went bankrupt. It actually did work out nicely for me.
Whodathink! What a great idea! We oughta give that a try! Why'd nobody think of that yet!
Assholes
“I am not saying that it is appropriate for fiscal policymakers to increase the long-run level of public debt. I am simply pointing to one benefit associated with such an increase: It allows the central bank to be more effective in mitigating the impact of adverse shocks to aggregate demand."
What if I don’t want to be part of “aggregate demand?” Because, like, I don't want to own more sh!t.
The title of the article calls it a "cunning" plan. It's really pretty much the same old shit, ain't it???
I recall several years back when we were having a running gun battle on ZH about "stock vs. flow" of USTs, I said something like "Don't worry, they'll make more."
And here you go.
There IS NO OTHER ALTERNATIVE. Ponzis that don't grow, collapse. The private sector is tapped out. Wages flat to falling, no easy credit available to spend (despite record low rates- if you can't get approved, you can't spend it). There is only ONE area of growth available to feed the ponzi: government. Keep bumping up that aggregate demand, have the Fed buy the paper and everything is fixed. Until you realize every government dollar spent crowds out private spending and investment. And government spending's productivity is near zero.
But keep right on worshipping at the Altar of Aggregate Demand, where every dollar spent is a good dollar. Whether it's on welfare, dropping bombs on brown people or building bridges to nowhere. It all counts the same and it's all good.
When Boris is hear phrase, "more rope", is immediately think "hangman noose".
I think that was a Baldrick/Blackadder reference.
Which would make it not the same old shit, but an even more ludicrous repackaging of the same old shit.
Since when injecting more debt has helped anyone or any country
Where did this guy get educated with his high salary!!! Seriously what a bozo
fuck keynesian economics
OH OH!!! BUT THE NEW PLAN IS BETTER THEN THE OLD PLAN!!!
1) Print a shitload more money
2) Give the money to Presidential campaign endorsers
AND LET THE TRICKLE DOWN EFFECT DO ALL THE REST!!!!
I'M SO SURE IT WILL WORK, I'M BUYING THAT NEW CAR TOMORROW!!!
I like your mind man, your thinking ...
But ... we need to focus on cocaine ...
You know (blow) ...
(and more hookers ...)
(the economy can't recover without more hookers)
MOAR debt! MOAR debt! MOAR debt!
Meet the new Boss!!! Same as the old Boss!!! Yeeeaaahhhh!!!
Sully
and (more Scotch)
Don't forget the scotch. (12 year single malt or better.)
Neat.
Scotch is good too ...
(damn)
(we're really problem solving now ...)
(like them Wall Street boys)
More debt is good, when accompanied with rising income and capacity to repay. The latter part is not happening, Kosher-latte don't care.
How'd it work out for your creditors? Maybe they should have rehypothecated your debt onto the Fed balance sheet before you defaulted.
Maybe it was securitized and did end up on the Fed balance sheet?
That kook will be Fed chairman under President Bernie Sanders.
Mock ‘Visit Iran’ posters created ahead of deal protest
http://tinyurl.com/oheguue
If we have a "President Bernie" then I'm fuckin' out of this shit show.
"Younger workers (and those who are yet to be born) have to pay the taxes to fund this extra debt issuance," he said, adding that "balancing these gains versus losses is clearly a job for the fiscal authority, not for monetary policymakers like me."
Fuck you, you fucking fuckface.
Ivy Leaguers are having another circle jerk.
Where do they find this sort of idiots ? Seriously now, it must be a pretty deliberate selection process...
Looks like he had a change of mind in 2009. Wonder why that came about? Persuaded by Rocco and Sluggo sent by the TPTB perhaps?
"After being appointed to the Minneapolis Fed in 2009, he underwent a "dramatic and unexpected intellectual transformation" from monetary hawk to dove, signaled in a September 2012 speech delivered at Gogebic Community College in Ironwood, Michigan, in which he advocated that the Fed “keep the fed funds rateextraordinarily low until the unemployment rate fall[s] below 5.5 percent” to everyone's surprise."
https://en.wikipedia.org/wiki/Narayana_Kocherlakota
MORE COCAINE!
HE'S SAYING "MORE COCAINE"!
WHAT THE HELL IS WRONG WITH MORE COCAINE!
(now ...)
(where's my friggin cocaine?)
https://www.youtube.com/watch?v=VlVmdGiAH2A
As long as you promise that one day you'll quit... here's your pound of coke, a new visa and a mirror.
Remember, it will have to last you 1 year before we'll all do this allover.
(as long as I get my cocaine)
(I'm doing it for the kids man ...)
(and for Johnny)
https://www.youtube.com/watch?v=rpXBptw8ZGQ
Those 2 clips are going straight to my favorites :)
The first one is the best ever :)
I LOVE YOU FUTURE HUMAN!
+1
only someone whose kid slept with their wife would say something like this. you have to really, REALLY hate your kids to think that $19 trillion in debt isn't fucked enough; rather, your "plan" is to pile more on-top simply because you cannot admit that you have been dead wrong all-along & THE ONLY PLAN is to reverse it out ASAP & take the pain.
when your in-too-deep, the first thing you HAVE TO do is STOP DIGGING.
What they won't 'admit' is, it's a hostile takeover of the economy. First, they pile on debt, then go NIRP. This way, they confiscate all property in the end. The unnaturally low rates they have held since the late 80's have extracted a lot of wealth already. It's like a leech or vampire bat that has a pain killer in their saliva. The low rates keeps everyone subdued while they suck the blood. Parasites are not stupid.
exactly, the patient is still breathing...so pile on more it can handle it. this is a contrived take down of the West. they steal through inflation and fiat and have first use of new "money" to gather more assets.
Just write me a check for 20 mil. I promise I'll only buy US-made products.
I LOVE IT!!
More debt! We'll all be rich again!!!!
Krugman says all we need now are 2 kinds of workers:
a) people who build bridges and buildings and roads.
b) bomber pilots who blow up the shit that people build.
(full employment guaranteed)
https://www.youtube.com/watch?v=2JwIEeuPsSc
Shit - I knew it would be a bad idea to take both the red AND blue pills.
a) Go into debt buying silver/gold.
b) Bury silver/gold - keep GPS coordinates.
c) Go bankrupt.
d) Goto line [a]
US prosperity was purcahased by debt rising from $60 trillion in 2003 to $210 trillion in 2014 per Kotlikoff. That was a debt increase of $37.4 billion a day for those 11 years. Apparently, that was not enough
The Federal Dildo Reserve, so everybody can be officially fucked......
It's a PONZI scheme. Humans have a tough time understanding the exponential function. You can't taper a PONZI scheme.
http://banksterbubble.com/debt-explosion-199-trillion-global-debt-disaster/
what about fixing some roads,bridges,failing sewerage,water and electricity infrastructure,creating meaningful jobs,increasing wages restoring a middle class.In Australia during the GFC the citizens not the bankers got the cheque to promote growth and spending.
Hey KocherlaKOTEX, shove yourself where the sun don't shine...
GENIUS!
Because this policy worked out so well for the Postal Service. And if what you mean by "works well" is Sen. Feinstein's husband jumping up and down for joy then yes.
debt should be the new money. whoever has the most debt is the richest.
Ahem ...
(please take a look at that feces and cocaine riddled green rectangle in your pocket Sir)
(that is a debt note)
right on the money. errr the debt. right on the debt.
You're a hundred years too late. The dollar is actually a unit of debt. You could think of it as a bond that pays no interest or as script issued by the Federal Reserve to match federal deficits.
Yes my friend. The federal government is passing off debt as if it is money.
Honestly - the debt the US has now [even leaving aside unfunded liabilities] is simply never going to be repaid.
I know it
You know it
The Tylers know it
Krugman must know it.
Whether he is really that stupid, or really a shill for the Jewish banking families that own the Fed {prove me wrong, Frodo...} - I dunno.
but what is maddening is Krugman talking about fixing schools and roads {for the chillins!} while we have money so "cheap"
Motherfucker - it shouldn't 'cosat' anything at all. This is the point.
And how is it that the judiciary can be in the government but 'independent' and so, in theory, can the DOJ operate within but independent of the Executive, and Congress can have a non-partisan, widely respected CBO...
But we can't possibly have the **issuing power** restored to We, The People???
The debt is all they know, the debt in their mind is the only remedy in their absurd monetary theories. People are confused the hell with the raising rates, why now when loaded with debt financial gamblers are ready to blow what's left of the real economy top kingdom come again.
I think I found an answer here:
https://contrarianopinion.wordpress.com/economy-update/
Will no one get us rid of these priest holes?
Arrest Kocherlakota for treason.
Hard to do if he is not a citizen.
Fuck yeah!
Helicopter me bitchez!
If we can just run up the national debt, buying hookers and more blow?
(that'll fix shit)
(fix it for good)
https://www.youtube.com/watch?v=VlVmdGiAH2A
100 year mortgages!!!
I like your thinking on this ...
But we can go further - the 100% OFF SALE!
(buy one for free, get the second one for the same price)
(GOGO)
(now, time for hookers and cocaine)
http://iamsully.com/?p=14936
https://www.youtube.com/watch?v=BRqKpanzDQw
70 yr treasuries at 12% interest. Can never be traded/sold. Only purchaser can redeem. Think you can make it 70 more years? Good luck!
Issuing more debt.
What a great idea. How did he ever think of that?
He 'borrowed' the idea.
debtspwnential
Well I guess we now know why all our money has traces of coke on it.
It is too late to stop pumping now or it will all blow up.
Just like interest rates can't and won't be raised.
It is called fractional reserve banking and this is the end game.
Inflate or die like never before.
And we know the crooks at the FED will do anything and everything not to let this bubble implode on their watch.
It is nothing but a central banksters' game of hot potato.
Such brilliance is why these guys get paid the big bucks.
Its funny, money printing aka deficit spending is actually what we really need. We just need it under three conditions:
1) It has to be straight-up money printing, not bond issuance (e.g. the never-ending interest rate monster), so we don't owe interest.
2) It has to be evenly distributed to everyone as a Guaranteed Basic Income. The purpose of money is to keep people alive and nobody has a right to assume they know how to get a return on the money, whether at ZH or in the Eccles building, because that is a FANTASY. Investing in so-called productive industry is another sham farce. We need to regenerate local industry by letting people have means to stimulate local microeconomic demand.
3) The banks need to be removed as the middlemen in all financial transactions and the FIRE sector has to collapse and be taken over by government. All debt owed to banks and financial institutions is to be forgiven, full-stop. No more fractional reserve or wall street hijinx.
4) All military expenditures have to be brought down to 20% of their current level within two years.
See this video:
https://www.youtube.com/watch?v=YQ7J4edphoY
For an explanation of why deficit spending is actually necessary in a modern economy, and why austerity policies (e.g. shrinking public spending in order to 'save money') is actually a death spiral for the countries that have tried it. There is nothing wrong with printing money. Its what happens after it is created, and the terms on which it is created, which determine the impacts of the policy. Fiscal responsibility and austerity policies would trigger instant impoverishment and capital flight / human flight from the areas where they are implemented. That's why austerity doesn't work.
^FED agent?^
Tried to reply and my 'puter froze up!
Read "When money dies" by Adam Ferguson for the full play-by-play script.
Price controls always end so well.
I know I'll get hammered for this, but I'd say Kocherlakota is 7 or 8 years late and I'm not sure how many Trillion dollars short.
When TSHTF in 2008, an actual Keynesian response might have worked. It would not have involved TARP, or "Porkulus" (remember that one?). An actual Keynesian would have let the banks and speculators fail, and would have sent, let's just say, $50,000 to every single man, woman and child in America. At the time, that would have cost about $15 Trillion. Then you raise interest rates. And knock a zero off of war-machine spending.
What that would have done is cleared the slate of all the private debt that by then had become obviously unpayable. You don't keep all that debt on the books and use the Fed to divert the US Treasury through the corpse of the insolvent banks like plasma through a dead guy.
90% of the people in America would have spent every penny of $50,000, or $200,000 for my household of 4. We'd have paid off our house, cars, student loans, credit cards; everything; and have had some money left over (not much, but some). If people had lost jobs, it would have bought them time, kept them in their houses, allowed them to go back to school; whatever to get past the crisis. Some of it would have been spent on hookers and blow. Some of it might even have been wasted. The actual stimulus to the economy would have been tremendous, at least at first.
In hindsight, $15 Trillion would have been cheap. And it might have worked; who's to say. To spend about a tenth of that to prop up the Ponzi was a complete and utter waste. So then, why did we use half-ass weak measures, and then complain that it didn't work? Because truly fixing the economy wasn't the goal. The goal was to perpetuate the broken economy, keeping the lights on in the casino and setting up the next round of sheep for the slaughter. And, come to think of it, that worked too.
"We'd have paid off our house, cars, student loans, credit cards; everything; and have had some money left over (not much, but some)."
You might have, but I know people who'd have leveraged it to the hilt. They'd just have bought more useless junk, to prove to me and everyone else how rich they are. Po' folks think that way. That's why they're poor and why we're saddled with parasites like Kosher-latte.
They knew it was coming too... just look at the cash for clunkers program. I'm certain it was tactically placed to assist with both helping out the auto-makers (read: unions) and to fulfill the enviro-nazis wet dreams (read: Obama)
True. That's what I meant by "wasted" money, not even spent on hookers and blow. But that money would have gone into the actual economy, whether or not it did the recipient/spender any lasting good.
I wasn't advocating that necessarily. The variables are so complicated I don't really understand them. I think it's obvious that the course taken did nothing the help the real economy. And I was trying to say that the approach taken shouldn't be considered "Keynesian." I thiink Keynes himself would have said the money spent on TARP, "Porkulus," "Cash For Clunkers" and all the other nonsense was money down a rathole, or more accurately targeted bribery to constituencies. It would have been better to do absolutely nothing, perhaps.
And oh, yeah. I won't get started on po' folks. I grew up in a family of highly educated people who will always be "po' folks" because they can't think strategically and find doing so to be vulgar. So now I and a couple other siblings who learned differently early on get to support everyone else. Whoopee! At least we don't give our family members money. We'll pay directly for some dire necessities. But if I set dollar bills on fire rather than give it to my dad, at least I could warm my hands for a moment.
"Because truly fixing the economy wasn't the goal."
IMHO I fail to see how injecting 15 trillion in the real economy would, as you imply, "fix it"
An economy is the productive society and money as a whole,,, not just money. The economy was basically off shored years ago. Money is just a means to trade within a real economy.... we don't have that. That is what's wrong. A government printing press is not an economy. Yes, in a real economy, they can push it a little but usually they stifle it by never ending regulating. Like a drug a little regulation is good,,, too much is really bad.
What do you suppose would happen with 15 trillion extra in a money supply of 500 billion. Price increases, big time! Far more than at present. Only reason it hasn't happened so far is the banks are holding it at the federal reserve as they know the demand for credit by credit worthy people is nowhere to be found.
just trying to point out 'free money' doesn't work regardless of where it's injected. Money has to correlate to the given economy. Increase one side,,, the other side has to increase. If not done in that manner you wind up with an unbalanced system like the world is presently experiencing.
Right. "Good money" should be a wealth(productivity) transference device between productive members of a society. What it (dollar) has become is a wealth extraction device being used by parasites.
I don't disagree with you. I'm not sure I actually advocate what I posted; I probably don't. I was just trying to say that's what a real Keynesian approach would have looked like.
I don't know what happens in a society like ours where we don't actually have a "Real" economy anymore. I don't know what rules apply to a completely abstract situation like we have now. Not the mainstream "Econ For Dummies" rules we plebes are given access to. On the micro-level, me being just a guy getting stuff done, the really old rules still apply, like the things my Grandfather told me about running a business and getting by through the Depression.
Pumping $15 Trillion through the wreckage of 2008 sure would have shaken loose a lot of shit, though. Using that to keep people moving while the existing finance structure was allowed to collapse would have put us in a very different spot today. Whether a better spot or a much worse spot, we'll never know.
It didn't go into the ecomony, it went into the market. And it will come out at a nice profit too. Banksters.
"An actual Keynesian would have let the banks and speculators fail..."
I could have stopped reading after that but continued out of respect for an otherwise reasoned comment.
Who made the decision to do TARP and then QE ? The Banks (te Fed and Congress are controilled by the Banks) .
Who benefitted from the QE policies ...The Banks.
Why are the Banks so powerful? The repeal of Glass Steagal.
Who were the aithors of the repeal ? Rubin Weill, Summers et al.
case closed.
l
The American economy is truly choking to death - because of the prevalence of Keynesian thinking on the Fed and the monetarist policies of the Government. I CANNOT understand how a Government that sees REPEATING failures of monetary policy ... can then decide to go and repeat the same mistakes again.
I SUGGEST that the fundamental failure of Keynsian thinking is the inability to recognize that there are two different types of money in the system. This is an enormous failure. Money that Americans produce and use through SAVINGS - is money that has an "intrinsic value". What does this mean? It means that the money was saved after doing useful and productive work in the economy. Therefore, the value of money that is paid (assuming honest and fair prices) is properly established by the economy. This is something OBVIOUS and all Americans know this by heart. The money that matters in our lives - is the money we EARN every day. How do we get this money?? ... by doing honest work. The amount of dollars that we get paid - is the FAIR PRICE in a productive economy. This money has Intrinsic Value. To say it simply ... "it's an honest buck".
IN CONTRAST ... money generated from debt can have NO Intrinsic Value. Meaning that such money can be "multiplied" through financial trickery, but it is producing NO USEFUL productive result for the economy. The best example of money with no Intrinsic Value is this ... Imagine the Fed creates a low-interest loan, and some of this money eventually reaches a hedge fund (through the abnking system). The hedge fund then takes the money and applies it to High Frequency Algorithms. The hedge fund apparently prospers through the HFT's, but these ulta-fast algorithms produce ABSOLUTELY ZERO value for the US economy. The HFT's only make money by acting as a lien, or a "tax", against the earnings of other legitimate stockholders in the market. The HFT's profit because of the volatility in the markets, and the advance knowledge (early market signals) that the computers have. The HFT's contribute no useful value to the USA. This money has ZERO INTRINSIC VALUE.
Keynesian economics is completely unable to distinguish between these two different forms of money. This failure is destroying the US economic system.
Keynesian economics + Fractional Reserve Lending + Fiat Currency + Private Central Bank Control = where we are now.
Those principles should be outlawed. We'd immediately see a change in the prosperity of the World.
Damn!! Smart move. How come I never thought of it.
Narayana Kocherlakota is a cunning linquist
And shall, with his bedroom buddy companions of Krugman, et. al., be later remembered as the textbook definition of insanity, as given by Einstein, scores ago. The difference between these two? Krugman is the poster boy, baseline definition of insanity.
What the US government hath wrought is to devalue money in an intangible way. When Hollywood actors and sports stars are paid millions, what does each dollar represent in actual productivity? A guy digging ditches gets more done for a fraction of the pay. So by not respecting the value of a dollar, and throwing it around by the boatload, no wonder money is not getting anything real done anymore. But the obligations and debt they create doing this are very real. So "throwing money" at the economy doesn't necessarily get people out their chairs and working. No real productivity increase means the debt will never diminish and things will only get worse. That's the real, tangible and observable human side of the equation.
Morons!
I'm shocked I tell you, SHOCKED! If I only could have paid a few $100K for a Hahvahd economics degree then I could have been the one to come up with such a stupendous idea.
Tell me... should we or should we NOT listen to this galactically stupid moron?
Blasphemy! You dare question our High Priest of Financial Fraud? To the gulags with you!
all debt represents money we have already spent, even debt taken on in the future tense to service the debt we already have, president obama on the debt ceiling
Consider this, those of you far wiser than I: Suppose TPTB (we know who they are, just not precisely names and faces beyond the FED and BIS, I suppose) have determined that the sheeple have more fleece?
Suppose an assessment says TPTB can take a few more trillions of wealth from this continent?
Suppose the DHS figures its "US Checku" has a few bullets short of a victory against an aroused populace?
Suppose fascist members of the APA (choose your poison) have determined the proportion of "zombies" has yet to reach their theoretical threshold?
Suppose the pharmaceutical industry has about 200 more vaccines (soon to be mandatory!) to assist in the final processing, just a few more months, perhaps a year or two to put in place?
Suppoose the geoengineering work has yet to complete its slow-kill mission? For example, there is still potable water in California, and enough good souls to cooperate after TPTB pull the plu?
Suppose, suppose.
Be free, as you are. Rub whatever sleep remains at the corners of your eyes.
Alan
Suppose they get punched in the face....
And, before you start swinging, friend, suppose "they" have no "face".
This is the Einstenian insanity employed by those who control the fate of the financial universe. Be afraid. Be very afraid."
So why the hell are these people still in positions of power and control?
It doesn't have to be this way, folks. These people (Yellen on down) CAN BE removed. A public march on DC this fall demanding an end to cronyism and their supporters CAN HAPPEN.
We'll get better when WE demand better...
...and not a moment sooner.
YOU'RE going to pay for it one way or another.
How much more will it take to start raising hell about these warping mechanisms and their operators?
25 trillion dollars of debt?
How about 50 trillion dollars?
Is that the threshold?
Unbelievable already...
m
Animal Spirits anyone? We are allowing a bunch of voodoo witch doctors ruin our very lives. I didn't ask for it. But I have to take along with the rest. How many here went through USMC boot camp? And back then, our reward at graduation could have been Tehran ..
Lackland.
Buzz Light Year Quantitative Easing
"Quantitative easing (QE) is a type of monetary policy used by central banks to stimulate the economy when standard monetary policy has become ineffective which has no end and is used on the unsuspecting masses to infinity and beyond!."