boedicca
Uppity Water Nymph from the Land of Funk
- Feb 12, 2007
- 59,439
- 24,109
- 2,290
Sheila Blair has put forward A Modest Proposal in which the Fed would give everyone $10M. Why should only the 1% benefit from the Zero Interest Rate Policu?
Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? Ive got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserves easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.
For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the carry trade, has been enormously profitable for them.
So why not let everyone participate?
Under my plan, each American household could borrow $10 million from the Fed at zero interest...
Sheila Bair's Modest Proposal To Fix Everything: Hyperinflation | ZeroHedge
Are you concerned about growing income inequality in America? Are you resentful of all that wealth concentrated in the 1 percent? Ive got the perfect solution, a modest proposal that involves just a small adjustment in the Federal Reserves easy monetary policy. Best of all, it will mean that none of us have to work for a living anymore.
For several years now, the Fed has been making money available to the financial sector at near-zero interest rates. Big banks and hedge funds, among others, have taken this cheap money and invested it in securities with high yields. This type of profit-making, called the carry trade, has been enormously profitable for them.
So why not let everyone participate?
Under my plan, each American household could borrow $10 million from the Fed at zero interest...
Sheila Bair's Modest Proposal To Fix Everything: Hyperinflation | ZeroHedge