Monday, October 6, 2008
DEAR BEN
PLEASE CUT INTERESTING RATES RIGHT NOW YOU FAT IDIOT!!!!!!!!! I HAVE TO IMAGINE YOU ARE ASLEEP AT THE WHEEL AGAIN. REALLY QUICKLY: THE FED CAN CUT RATES, BUY SECURITIES IN THE OPEN MARKET, AND LOWER THE RESERVE RATIO. THREE VERY GOOD TOOLS TO DEAL WITH A DEFLATIONARY SPIRAL FROM SHRINKING BANK BALANCE SHEETS. MAYBE THATS WHY THE FED HAS THOSE TOOL. USE EM OR LOSE EM (DO YOU REALLY THINK YOU WILL BE THERE UNDER ANOTHER ADMINISTRATION)
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