Remember when I compared Quantitative Easing debt monetization to crack cocaine addiction? It appears that Tim Geithner and Ben Bernanke have moved up to the level of co-dependency and are only one step away from collapsing on an uncovered mattress on the floor of a squalid roach-infested apartment. Read this: Wall Street Journal: Fed Buying 61 Percent of US Debt [1]. The next thing you know, Tim and Ben will be passing the glass pipe and singing a duet: “Its easy come, easy go, little high, little low…” [2]
This should make you feel cheery when you write your check payable to “U.S. Treasury” in a couple of weeks: Federal Heads Roll Over $822,000 Las Vegas Party [3]
Items from The Economatrix:
Your Tax Bill: We Work 107 Days To Pay Taxes
Spanish Unemployment Total Rises to 4.75 Million [5]
Visible On The Horizon: Inflation [6]
Wall Street’s Ease-addicts Give Fed Minutes A Thumbs Down [7]
Moody’s Downgrades GE, Citing Risks From From Financial Unit [8]