Tuesday, Aug 21, 2007
You don't need a helicopter to distribute free money these days
Firstrung: The Fed’s rate cut: why the market’s positive reaction could be short-lived
The markets are crashing. It seems that no one can save them now. But wait a minute, what's that up there in the sky? Is it a bird? Is it a plane? No - it's a helicopter, actually. And the man at the controls, US Federal Reserve chief Ben Bernanke, clearly hopes that by flooding the US financial system with enough dollars, he can prevent the whole credit bubble from collapsing.
Posted by converted lurker @ 07:07 AM (298 views) Add Comment
1 Comment
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1. Orwell said...
Any one told our Guru this?
On his web site a little while ago they were suggesting there was unlimited money to prop up the credit markets without any inflationary consequences......
Ho ho ho ho ho ho ho. Little do they know eh?