A Trillion Bottles of Beer on the Wall, a Trillion Bottles of Beer
Today, Fed Chairman Bernanke said they are going to monetize $85B of US Federal Debt every month for as long as it takes. That works out to a bit more than $1T of worthless, printed money a year, handed out by whoever is in power in Washington, DC.
Naahhhh, that's not corrosive to civic health. Not at all.
Oil the printing presses! We're saved!
Update: Fellow SLOB WC Varones points out that they're not really printing all $85B. They are printing $40B and continuing Operation Twist to the tune of $45B a month. Operation Twist is where they sell short-term bonds and buy long-term bonds.