Tuesday, December 02, 2008

More proof of pushing on a string

From Paul Krugman's blog, here is the money supply:

Helicopter Ben has been printing money with all the fervant abandon of a Weimar Republic finance minister. Anybody see anything that looks like economic recovery anywhere in sight?

Pushing on a string, folks. Pushing on a string. If the money isn't making it into the pockets of people willing to spend it (i.e. ordinary people who need jobs), you're just pushing on a string. Money that just sits in bank vaults (or 1's and 0's in their computers nowdays) ain't doing diddly to keep people employed and keep factories rolling.

-- Badtux the Economics Penguin

1 comment:

  1. Thank you, sir!

    Been saying the same thing myself since this nonsense was first spouted.

    Maybe the next $750 billion?

    Suzan

    ReplyDelete

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