The stock markets were down sharply today on the release of the last Federal Reserve Board minutes that suggest they are are losing their consensus on the continued printing of more money to plump up the bond markets. The Fed has been pumping out $85 billion a month in the effort to hold deflation at bay.
The math on what they've been doing is that this is roughly equal to a quarter of the Federal government's budget. Not that the taxpayer is funding this, the Fed just prints it, or rather they move electrons around in some computers to buy bonds from rich people and institutions so that they can show a profit and reinvest.
The worry isn't over the fact that the Federal Reserve is doing this, the panic is over the idea is they might stop. You can't let go of the tiger's tail until he's really, really tired. A lot of people on the right think we're just annoying the tiger, if we would only let go he'll be a good kitty and lick our hand. Does kitty want sauce with his finger snacks?
Senator Elizabeth Warren has just started holding her first hearings into the ongoing criminal conspiracy know as Wall Street banking. Needless to say she's not happy with the Obama Administration's lack of prosecutions, although she does acknowledge the lack of resources thanks to the Republicans...but feet are being held to the fire just the same.
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On Sunday, Israel dropped massive bombs near Damascus, ones which the New York Times, quoting residents,...
