regarding how cool n good the fed is by pumping money, I would like to remind people that ummm history goes back a little further than our lifetimes, and just cos what we remember might suit our concept of how good the fed is...
mmmmmmmm
Here is an exerpt I received in an email today, talking about the remarkably similar liquidity pumpint that went on in france
"Another quote from the book drives the point home very forcefully: It progressed according to a law in social physics which we may call the "law of accelerating issue and depreciation." It was comparatively easy to refrain from the first issue; it was exceedingly difficult to refrain from the second; to refrain from the third and those following was practically impossible.
It brought, as we have seen, commerce and manufactures, the mercantile interest, the agricultural interest, to ruin. It brought on these the same destruction which would come to a Hollander opening the dykes of the sea to irrigate his garden in a dry summer. It ended in the complete financial, moral and political prostration of France?a prostration from which only a Napoleon could raise it."
this is a quote from a book called "fiat Money inflation in France" that is available here: (though it takes an age to download)
http://mises.org/books/inflationinfrance.pdf
Now this collapse took 7 years to unfold after the first injection of money post the French revolution late 1700's
of course... this time it is different :)
Timing is a bit tough eh :) The Great Voltaire (namesake of our own... 68 years before said thus ?paper money eventually returns to its intrinsic value --- Zero.?
Now on the whole societal collapse thing and armageddon... meh.. being a child of last generations screaming armageddoners from the fears in the 70's (yup that includes going seriously bush in minimum fallout area n living in isolation for 7 years as a kid) well.. my research has shown that EVERY generation there will be people, around 40 years old, male, self assured... who start screaming "collapse" armageddon fear pain rah rah rah...
But... this time it's differnt NO?
LOLOLOL
Hey Hedgey, you wouldn't be in yer forties would ya?
(20min delay)