Saturday, December 04, 2004

Wisdom of the Mogambo

From the Mighty Mogambo:

Total Fed Credit, which is the fount of from whence springs all that magical, out-of-thin-air, fairy-dust money that is the hallmark of the Greenspan Fed, was up another $3.8 billion in the last week. The Treasury issued another $3 billion in actual paper-and-ink cash, which is NOT money made of fairy dust, but is, instead, money that is made from actual paper and ink, but which is just as phony-baloney.


And people wonder why it is hard to make ends meet.