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The Dallas Fed's Richard Fisher covers familiar territory, questioning the efficacy of QE and...

The Dallas Fed's Richard Fisher covers familiar territory, questioning the efficacy of QE and noting the Fed could soon be buying 100% of MBS issuance. The section on fiscal policy - subtitled "Oy" - is most memorable for inclusion of a classic YouTube video about the ease of spending money when it's not coming out of your wallet.
Comments (2)
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    It'd be a whole lot more humorous if we weren't having to live through it.
    16 May 2013, 09:13 AM Reply Like
  • BruceInKY
    , contributor
    Comments (435) | Send Message
     
    I love this sentence from Fisher: 'Being “zero bound,” we instructed our traders to embark on a buying spree of Treasuries and MBS, and they have done so, ballooning our balance sheet from its precrisis level of less than $900 billion to about $3.3 trillion.'

     

    Perhaps he should consider playing Elvis Costello's "Everything Means Less Than Zero" for even more comic relief!

     

    A pistol was still smoking, a man lay on the floor/
    Mister Oswald said, he had an understanding with the law/
    He said, he heard about a couple living in the USA/
    He said, they traded in their baby for a Chevrolet/
    Let's talk about the future now we've put the past away.
    16 May 2013, 11:32 AM Reply Like
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