Thursday, April 16, 2009

No Hope for This Change

"You can hardly pick up a paper or listen to a newscast without hearing how inflationary Uncle Sam’s bailout efforts are. 'Money out of thin air' is a phrase never so popular as it is these days. And, indeed, every bit of the money going to bail out the administration’s political cronies on Wall Street and fatten Obama's constituency everywhere else is being created out of thin air.
 
"The Federal Reserve recently proposed what may be the most inflationary policy in it’s history, directly buying government securities to the tune of a trillion or so. Thin air again is the well from which all the Fed’s funds are dredged up."