Printing Electrons? (December 1, 2008)

The Federal Reserve is running the “printing presses” 24/7.  The Fed. issues regular press releases announcing:

Federal Reserve will offer $150 billion in 28-day credit through Term Auction facility [yesterday].

Federal Reserve announces results of auction of $150 billion in 28-day credit held on [yesterday].

Federal Reserve will offer $150 billion in 28-day credit through Term Auction facility today.

Federal Reserve announces results of auction of $150 billion in 28-day credit held today.

Federal Reserve will offer $150 billion in 28-day credit through Term Auction facility [tomorrow].

Federal Reserve announces results of auction of $150 billion in 28-day credit held on [tomorrow].

. . . . . . . . . .

The amount raised and the term may vary, yet the country is burrowing in deeper at a faster rate.

Bumper stickers of the week:

The Trillion is the new Billion.

“A billion [Trillion] here, a billion [Trillion] there, and pretty soon you’re talking real money.”                                        Attributed (perhaps incorrectly) to Everett Dirksen

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