The Fed has helped print a new kind of currency, currency being a means of exchange that in and of itself offers no return whatsoever.
This new kind of currency used to be referred to as notes and bonds.
Please be mindful of this change if you plan on using the tired old phrase, “A man’s word is his bond”. Remember to replace “word” with “money”, and you’ll be okay, at least until 2013.
Money is freely available to those who don’t need it and don’t deserve it. For everyone else there’s 29.99% Mastercard and Visa.
Elected officials in the United States are prohibited by both law and custom from looking in the mirror.
GDP for the sake of GDP is only a good thing if it is done in China, where empty buildings and empty cities are viewed as growth-positive.
On the other side of the world in the US, however, remember to change the plus sign to a minus to reflect the directionality of the gravity that has captured US assets and their funding mechanisms alike. Just to note, were Las Vegas, South Florida, and Detroit located in China, they would be referred to as “Economic Miracles”. It’s like that.
If you don’t have a job, you have 99 weeks to come to terms with it, after which you are no longer eligible to be counted in BLS labor participation rate statistics. The proper term for this is “patriotism”.