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?



Ground rules: Comments that consist solely of insults, fact-free talking points, are off-topic, or simply spam the same argument over and over will be deleted. The penguin is the only one allowed to be an ass here. All viewpoints, however, are welcomed, even if I disagree vehemently with you.

WARNING: You are entitled to create your own arguments, but you are NOT entitled to create your own facts. If you spew scientific denialism, or insist that the sky is purple, or otherwise insist that your made-up universe of pink unicorns and cotton candy trees is "real", well -- expect the banhammer.

Note: Only a member of this blog may post a comment.