The FED Moves From The Banker's Bank to THE BANK

The Associated Press:
Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash (out of thin air) directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall anyway and hit new five-year lows. The central bank invoked emergency powers to lend money (out of thin air) to companies outside the financial sector and buy up mounds of commercial paper, the short-term debt that firms use to pay for everyday expenses like salaries and supplies. The Fed, which has only loaned money (out of thin air) to banks before, made the move as the gravest financial crisis in decades wore on and concern spread around the world.

Duck Tales Lesson on Inflation
An episode of Duck Tales dealing with the negative consequences of inflation.

Posted by Editor at October 8, 2008 01:05 AM