Exchequer

Subprime This, Subprime That

So now that it is basically out of monetary options, the Fed is going to keep greasing the wheels by buying up more U.S. government debt. The dollar says, Ouch!

The U.S. dollar fell against the yen and pared gains against the euro on Tuesday after the Federal Reserve said it would begin reinvesting proceeds from maturing mortgage bonds into longer-term government debt to support a flagging economy.

The euro rose to $1.3170 EUR= from around $1.3110. It was still down 0.5 percent on the day, but well off its session low.

The dollar extended losses against the yen to 85.31 yen JPY= from about 85.80 yen. It was 0.6 percent lower compared to late Monday.

The Obama stimulus is not working, it’s just eating up a gazillion dollars. Fed pump-priming is not working, it’s just devaluing those gazillion dollars eaten up by the Obama stimulus.

Is there a Plan B, guys?

Most Popular

Education

The Deflation of the Academic Brand

Trumpism is sometimes derided as an updated know-nothingism that rejects expertise and the input of credentialed expertise. Supposedly, professionals who could now save us tragically have their talent untapped as they sit idle at the Council on Foreign Relations, the economics Department at Harvard, or in the ... Read More
Politics & Policy

When the Tide Comes In

EDITOR’S NOTE: The following is Jonah Goldberg’s weekly “news”letter, the G-File. Subscribe here to get the G-File delivered to your inbox on Fridays. Dear Reader, “Save Ike from the Kikes.” I’d better explain. This weekend marks the one-year anniversary of the Nazi troll armies’ march ... Read More