A must-see video. Hat-tip Jake.
Posted by Karol at 12:06 PM
Where can I get some quantative easing?
Two types of videos I can’t get enough of: xtranormal and Taiwan cgi.
The video is excellent and reveals much, but it doesn’t state a plain truth (at least not that I’ve seen).
The truth is that “quantitative easing” is quackery, and “stimulus” is just a smokescreen. Even going by the Fed’s Keynesianism, it wouldn’t work anyway. Now, the Fed doesn’t need to inject $600 billion into the economy, but it does need to lend $600 billion to the Treasury. There’s no more money to borrow from other countries, so like any African Marxist (e.g. Mugabe), Obama thinks the central bank can simply print new money.
“Cabeza de mierda” Washboard popped up on my blog tonight, which reminded me that I’ve been away too long. For several months I’ve been busy with this big project, as well as jockeying for a big (and IMNSHO well-deserved) promotion. It’ll be curious to see what economic fallacies have gone unchecked here.