We want you to prop up the stock market. Everybody knows it’s a Ponzi scheme that will collapse without your support. You don’t want us to end up like Bernie Madoff’s clients. No, Ben, we love Ponzi schemes. We get in early and get out before they collapse. That’s why we’re rich. The bad thing is that they sometimes collapse before we can get out. But you’ve bailed us out twice in the last couple of years….
Federal Reserve
Oh No, The Inventory Correction Is Confirmed
by Wolf Richter • • Comments Off on Oh No, The Inventory Correction Is Confirmed
Fed’s Policies Slam Us Again
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NY Fed: Execs Are Drinking Their Own Kool-Aid
by Wolf Richter • • Comments Off on NY Fed: Execs Are Drinking Their Own Kool-Aid
Downgrades Don’t Matter
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Your Dollar—up to no Good
by Wolf Richter • • Comments Off on Your Dollar—up to no Good
We Should Give them a Calculator
by Wolf Richter • • Comments Off on We Should Give them a Calculator
Your Dollar
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Our Chinese Bay Bridge
by Wolf Richter • • Comments Off on Our Chinese Bay Bridge
A Modest Proposal
by Wolf Richter • • Comments Off on A Modest Proposal
What galls me the most in this entire imbroglio of our debt ceiling is the hypocritical approach of our politicians: A Congress that authorizes every dollar that gets spent, gleefully accumulating a pile of debt so vast it’s hard to wrap your brains around it; and administrations who have been eager to borrow and spend as directed by Congress.