Comment Re:Carbon emissions sleep with the fishes (Score 1, Interesting) 240
I heard yesterday that M1, today, as compared to a year ago, has more then doubled. I call it Bernanke money. I wonder if the mass media will report this. Bloomberg? had a front page article yesterday with a title like Dollar at Red-Line. Relevantly, it reports that US Banks are dumping the dollar for Euros. I suspect the same banks that got bailed out.
Still, while Bernanke money will screw us, it is best treated as an incompetent response to a disaster. For causes, look to the repeal of Glass-Steigel in 1988 and the legalization of derivatives in 1990. Both were in response to the 1987 crisis. Oh, for Bush lovers, the last was Bush Sr's bright idea.
Actually, six factoids came in yesterday. Again, do not hold your breath to hear about them in the mass media. Together, they lead me to the conclusion that the economy is disintegrating faster than in the historical precedents. So I will venture a prediction: October is likely the end of the post-war era.