THE MAGIC MONEY TREE: FOUND!
The Obamunist found it when he was flying around on his unicorn, spreading rainbows full of chope and magical fairy dust on the whos of whoville:
The world believes that the US is borrowing money from capital markets. It is often said that the Chinese and the Japanese will buy government bonds. But the truth of the matter is that trust in the gravitas and reliability of the United States has suffered to such a great degree that fewer and fewer foreigners are purchasing its government bonds. That's why the Federal Reserve is now buying securities that it has printed itself. The Fed's balance sheet has more than doubled since 2007, making the US central bank one of the world's fastest-growing companies. The purpose of this company, though, is to create money out of thin air. (Der Spiegel)Wal, I may be a dumb hick, but I wonder what could possibly go wrong with that there "money from thin air" thing.
The funny thing is that those wacky Germans still bashed Bush in the the article, but then went on to Chairman Zero with a big 'ol WTF.
Strange that Europe is becoming more capitalist while we are running as fast as we can to socialism.
No comments:
Post a Comment