When almost a year ago, we proclaimed the New Normal S&P abbreviation to stand for Stalingrad and Propaganda (or, alternatively, Poorski), little did we know just how far the references to Yosif Vissarionovich would stretch. Today, courtesy of the Fed's Eric Rosengren and the Boston Business Journal, we find just how deep the Marriner Eccles' Politburo fascination with its central planning idol, Iosif Vissarionovich, truly runs.
And we certainly wish we were making this stuff up.
Via the Boston Business Journal: [3] [4]
[5]