On Mar 25, 2009, at 7:24 AM, Charles Bennett wrote: > "The Federal Reserve starts purchasing long-term Treasuries today, > aiming to bring down borrowing costs by employing tools last used in > the 1960s." > > "“Clearly the Fed has credibility and buying power at the moment, so > they can force prices up” on Treasuries, said Jay Mueller, who > manages about $3 billion of bonds at Wells Fargo Capital Management > in Milwaukee." > > > WTF!! The FED *IS* the Treasury, is US.. > > That is exacly the same as me "loaning" myself $100 by taking it out > of my wallet, putting in my pocket, and claiming that I have $200 > in assets > since I have $100 and I'm OWED $100... Of course, keeping it to > scale, in their case they intend to then go spend 3000 dollars, mark > the 200 as GDP and the rest as deficit so our kids can pay the loan > later. > > Insanity. > > <http://www.bloomberg.com/apps/news?pid=20601087&sid=aEFIWsIe24eA&refer=worldwide > > >
Chuck and a few others. I wish I could find a softer way to say this but you just come across as very ignorant with posts like this. I've recommended this page before: <http://baselinescenario.com/financial-crisis-for-beginners/> If you had spent a while there, you would have found this: <http://baselinescenario.com/2008/12/27/interest-rates-for-beginners/> I read these posts and I think, "It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.” There is nothing here that is all that complicated but you do need a little background. We've all laughed at the hard core Christians who know nothing at all about evolution or the scientific method but insist on pontificating about those subjects. Well the discussion about economic matters here is sometimes every bit as unsophisticated as that. --- Just because they're good at propaganda doesn't mean we have to be good at stupid. -Marty Kaplan _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
