I found this really interesting comment from the St. Louis Fed on the first event of quantitative easing in the U.S. by Franklin Roosevelt in 1933. It is interesting for several reasons. First, it has been done before. Second, it was “sterilized” by gold purchases, and third, it appears they printed money to pay for [...]
I have been seeing a lot of commentary from the MSM blaming the Republican Tea Party Caucus (and S&P) for the market turmoil. It is a classic case of shooting the messenger. In the case of the Tea Partiers, it is more like shoot the cavalry: They were trying to rescue us.
These opinion leaders are [...]
The Federal National Mortgage Association, fondly known as Fannie Mae, lost another $11.5 billion in the first quarter, its twelfth quarterly loss in a row, and is asking the taxpayers for another $8.4 billion to bail it out. According to the Wall Street Journal article, the company has lost $148 billion or about double the [...]