« Jet Blue Schools CEO's in 3 Easy ~ and Confidential ~ Lessons | Main | "Honestly? I Lied" »

March 18, 2009

Out Of Thin Air

As feared, this is how Obama and noted tax cheat Geithner will "solve" the budget mess


WASHINGTON: Saying that the recession continues to deepen, the U.S. Federal Reserve announced Wednesday that it would pump an extra $1 trillion into the economy by buying mortgage-backed securities and long-term Treasury issues.

"Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending," the Fed said, adding that it would "employ all available tools to promote economic recovery and to preserve price stability."

As expected, the Fed kept its benchmark interest rate virtually at zero. But in a surprise, it drastically increased the amount of money it will create out of thin air to thaw out the still-frozen credit markets that have cramped lending to consumers and businesses alike.

Just print more money.

That worked so well in Weimar Germany and Argentina.

The dollar goes totally in the toilet.

We get screwed.

Change you can believe in.

Posted by Mr. Bingley at March 18, 2009 09:45 PM

Comments

Who'd have guessed that "Change" meant changing the dollar bill into toilet paper?

Posted by: Gunslinger at March 19, 2009 06:43 AM

Sounds like what the Weimar Republic did, way back when. And we all know how well THAT turned out.

Posted by: JeffS at March 19, 2009 02:51 PM

Lessons from "How to Turn a Prosperous Country Into a Starving Basketcase Via Hyper-Inflation" by Robert Mugabe.

Posted by: Dave J at March 19, 2009 10:53 PM