Friday, April 09, 2010

Total Fed Credit: A Credit to Fed Stupidity

The morning after his night before in the bar, the Mogambo Guru examines the $2.3 trillion dollars of credit the Fed has issued to itself, with $1.85 trillion of that being in the last few years, mostly to be spent on buying mortgaged backed securities and US Treasuries, and asks himself where it's all going to end?

The resulting Fists Of Mogambo Rage (FOMR) ain't pretty.

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