Here are some more "money printing" fun facts to share with you friends.
Dollar Index on 9/19/2011: 77.14
Gold price on 9/19/2011: $1803 per ounce
Dollars "printed" in past year according to US Treasury: $65 TRILLION
Dollar Index today: 79.05
Gold price today: $1770 per ounce
Dollar is up.
Gold is down.
But don't worry...dollar debasement and inflation are coming all you gold lovers! Really, I swear!
5 comments:
Mike,
Have you worked out how you debase electrons in a computer?
I'm not at all sure what you'd mix them with.
Neil :
Gluons, quarks and strings.
Mike :
What really caused the crash of 2008 ?
Was there a balancing of budgets going anywhere ? Where did the liquidity go ?
Who pulled the plug ?
Why did Greenspan hand pick Bernanke the depression "expert" ?
Was it all a ploy to rock out the overcapacity built into the system and creatively gobble up assets around the world ?
now that's what i would like to see: a clear, concise explanation of what actually happened in '08, b/c i'm still not clear on that.
can anyone here give an explanation or point us in the direction of one?
thanks!
oh, and great post, mike!
2008 the antichrist was born and declared his dominion over the world. That's what happened I think.
Yuu Kim, Googleheim
Causes of the crisis: too much private debt which was seen as serviceable as long as assets also grew, once they stopped growing the private sector was essentially bankrupt, it slowed its spending and spending=GDP. The govts. picked up some slack by spending more but not enough.
http://www.voxeu.org/article/no-one-saw-coming-or-did-they
http://www.debtdeflation.com/blogs/2012/07/22/the-crisis-in-1000-words-or-less/
http://www.debtdeflation.com/blogs/2009/01/31/therovingcavaliersofcredit/
Post a Comment