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Thursday, September 13, 2012

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.

2 comments:

  1. Anonymous2:00 PM

    I would respectfully disagree, but this was pretty funny:

    http://mjperry.blogspot.com/2012/09/ben-bernanke-as-child.html

    ReplyDelete