But if you count the full £500 bn, you need to count the full range of interventions by the Fed up to now, as it has taken increasingly shitty collateral and is now accepting commercial paper.
Some have priced the total commitments of public money at $2.6 trillion already (see my link to Ian Welsh in my nationlaisation diary). In the long run, we're all dead. John Maynard Keynes
Though Chris Cook has argued convincingly the BofE is actually making money out of NR... A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
we'll send in €5 a month each monthly and you play with it on your laptop while we're slaving away and take yer cut, ya lazy number-crunching capitalist sod!
:)
help us off the hamster-wheel into the vaunted realms of the elite 1%!
beat the crunch with ((*Mig's Asset Protection IncTM))
why doesn't the macro thingy work, did i blunder? The person who says it cannot be done should not interrupt the person doing it. Chinese Proverb.
Not that ET would qualify.
Would it.
Would it? [long pause for thought...]
