Thursday, March 20, 2008

Depressing Depression

Right on cue the Fed has fired up the printing press to bail out our idiotic rich elites. The inflation that will no doubt ensue from this (and other actions) is little more than a horrid regrssive tax that acts as a reverse Robin Hood. From here:
The Fed, in a bold move Sunday, agreed for the first time to let big investment houses get emergency loans directly from the central bank. This mechanism, similar to one available for commercial banks for years, got under way Monday and will continue for at least six months. It was the broadest use of the Fed's lending authority since the 1930s.
The 1930s? That's reassuring.

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