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Good example of why NCE macro-economists have their heads up their bums.

Yes we've got liquidity up the old wazoo.

HOWEVER, that money isn't a big pile of goo, it's segmented into markets.  Cutting a long story short, the people playing with money ($1 trillion/day) in the international currency markets don't have the expertise, contacts ... the ability ... to suddenly shift to short term bank lending.  

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Thu Sep 15th, 2011 at 12:54:52 PM EST
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