'Money in search of mischief and likely to find it.'
"The Fed's balance sheet is exploding. They have added over $3 trillion in new securities since QE began. Bernanke's money printing is counter-productive and is why the economy won't recover. If it were as easy as printing money or creating credit to levitate an economy or to reactivate business activity the world would have been richer many generations ago."
Jim Grant with Lauren Lyster yesterday on her new show. Lyster and her producer Demetri Kofinas closed shop at Capital Account on RT a few weeks and just popped up over at Yahoo Tech Ticker.
Special bonus clip below of Lauren Lyster and a mini-skirt leg-kick.
As expected, the Federal Reserve announced Wednesday it will continue its $85 billion monthly bond-buying stimulus program until the economy improves. The central bank also pledged to keep interest rates near zero until the national unemployment rate falls to at least 6.5%, and as long as inflation stays in line with its 2% target. Ahead of the Fed announcement the Commerce Department reported 2012 fourth quarter GDP fell for the first time since 2009. The 0.1% contraction is indicative of the "low-level virus" attacking the domestic economy, says Grant. In fact, Grant believes the Fed's perpetual low-interest rate policy will lead to the next big economic crisis in this country: the bursting of the bond bubble.
Lauren Lyster Bonus:
Happy Friday. Lauren Lyster leg kick in short skirt at 24 second mark.
UPDATE - I found this Krugman/Henry Blodget interview while at Yahoo. More deficit-spending nonsense from the false prophet.