Leaping Toward The Keynesian Dream:

[Mr. T]

Leaping toward the Keynesian Dream: "The Fed’s latest inflationary scheme sounds like a technocratic innovation. It lowered the costs of currency swaps between central banks of the world, with the idea that the Fed would do for the globe what Europe, England and China are too shy to do, which is run the printing presses 24/7 to bail out failing institutions and economies. In effect, the Fed has promised to be the lender of last resort for the entire global economy."

From Whiskey & Gun Powder

 

The Fed assures us otherwise. It “bears no exchange risk” in undertaking such actions. But as economist Robert Murphy explains:

 

 

“Strictly speaking, this isn’t true. If the Fed gives $50 billion in dollars to the ECB, which (at those market prices) gives $50 billion worth of euros to the Fed, then the ECB lends out the dollars to private banks, and before they repay the loans, the euro crashes against the dollar…then the ECB has no means of acquiring dollars to repay the Fed. Even though the ECB has a printing press, it is configured for euros, not dollars.”

 

He further states what everyone knows but no one is will to say:

 

 

“The current round of interventions will not solve the problem. Down the road — probably much sooner, rather than later — the central banks of the world will engage in some further extraordinary measures, again, lest the whole world fall apart. Even so, printing money doesn’t fix the underlying problems. No matter what they do, eventually, the whole financial world will fall apart.”

[calfoxwc]

It's a complete disaster, this Keynesian crap. It always IS. Every time.

 

But with the dummies that endorse it.... it's about greed, envy, and buying of votes of those who are greedy, and envious.

 

And lazy egg suckinig weasels......

 

Not good at all.

[Mr. T]

Do you think there will be any chance that the laws will be changed so that Washington insider trading will become illegal?

 

When that day comes we will get these clowns to stop toying with our economy and leave it up to the businessmen to create wealth and jobs.

 

Then we wont have to listen to a bunch of so called financial experts who have never worked a real job a day in their entire life telling us what to do.