pronounce me wealthy, oh fed
reading this article linked from LvMI, it’s almost shocking how infantile is the “mainstream” view of economics in the goonited states. pushing aside the buzzwords, it comes down to this plea:
“please, great demigods calling yourselves the federal government, say something to me. grant me the blessing of your declaration. create economic miracles with your tongues and pens.” [and guns]
that’s it, for this supposedly mysterious “money” creation, sold as beyond the understanding of all but the most “credentialed” of career bullshitters, is nothing more than codified edict. it isn’t wealth. it’s glorified jizz being waved around, its only value the gullibility or acquiescence of those accepting it. at this point it isn’t even debt — just fantasy before the unavoidable collapse.
but as is often the case, at least the hint of truth is shoved into the article just before the finish:
[…] Some analysts such as David Rosenberg of Gluskin Sheff in Toronto say that the first downturn, which began in December 2007, never really ended. “This is a depression, and not just some garden-variety recession,” he wrote clients. […]
right. but thank jehovah the article got all the “mainstream” ducks in a row before that sad tale. shout us up some more “money”, bitches. declare “us” wealthy. “stimulate” “us”.
probably within 5 years every other word on this blog will be in quotes.