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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