The Federal Reserve says, "to help improve conditions in private credit markets, the Committee decided to purchase up to $300 billion of longer-term Treasury securities over the next six months."
The Wall Street Journal sums that move up nicely: "With rates near zero, the Fed is now essentially printing money to increase the supply of credit in the economy."
Now where's my Econ 101 textbook? I want to see what happens to the value of any given good when you suddenly flood the market with a new supply ...
Thursday, March 19, 2009
If the ink does not rub off on your butt, it will make good toilet paper
From Disloyal Opposition: