And the drug C we took to counter the effect of Drugs A and B was the Dodd-Frank “reform” which further cemented the position of the Too Big To Fail banks in our financial system.
At this point, the only safe investment is cash. Which is why some governments are trying to eliminate it.
Oh, there’s no end to the drugs. The old woman who swallowed a fly springs to mind.
Except cash is really not a safe investment. It is about the only investment that is guaranteed to lose you money. That is why it is not in fact an investment.
There are of course plenty of other reasons why governments don’t like cash.
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@lolipop_jones & @L0ki :
Die einzig stabile Währung
ist die alkoholische Gärung.
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Which reminds me, it’s been a while since I lurked around on Zero Hedge.
Are Mercury dimes still a thing?
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Just one sip per person!!!
The problem with the bailout was that it was it essentially had no strings attached, which allowed incompetents and greedheads to do things like give themselves bonuses instead of issuing more commercial paper. Unfortunately, the idea of the American government telling a corporation what to do with the bailout money it hands them is anathema in a country where power is given to laissez-faire dunderheads who think the only choices after such a crash are blank-cheque bailouts or letting systemically important banks just fail (which worked out so well after 1929).
What puzzles me is how Republican and Libertarian middle- and working-class Americans think they’ll ever be able to take advantage of the tax cuts for millionaires for which they advocate when they don’t understand basic financial concepts like the difference between savings and investments. Propaganda alone doesn’t explain it.
Cash was an investment back when (jesus, it seems like a century ago) you could earn 4-5 percent on a small balance CD.
Enforced ZIRP has been a bipartisan, multinational plan of bankers everywhere.
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