AFGL: Happy Birthday, QE2 & the Worst Cigar?
November 5, 2010 · Posted in AFGL
A lot of things have happened since the last AFGL. But here’s what is on my mind right now:
- Happy Birthday to my sister, Rachel!
- QE2: What is it? Well, it’s when the Federal Open Market Committee (FOMC) from the Federal Reserve Board buys Treasury Bills (yes, they have bought mortgage backed securities in the past). But the catch is that they are buying those bonds with newly created money. It’s purpose is to create a bit of inflation, spur business investment and jump start the economy. Things can get a little confusing if you look too closely at the mechanics of this whole thing and try to figure out if it’s a good idea or a bad idea so I have done the honorable thing and provided some links: Economist Roundup, It’s Bad, Milton Friedman would have liked it, Milton Friedman would not have liked it, Friedman would have loved it, It Could Be Really Bad, Meh.
- From Tiki Bar Online: The Viper is really, awfully bad.
And here’s a rap video about economics!