We are old enough to remember the fateful 1998 day that the FED bailed out LTCM. Back then $2bln was a lot of money and we were sold that LTCM was going to take down the global financial system. Well fast forward to today, where every day we have on average $12.8 Billion in QE per DAY!
So when we see congress bitch and moan and play partisan politics with sending Americans $200 extra in UNEMP. Benefits, (roughly $80bln in total cost) realize they are adding nearly $13 Bln a day to paying off large bank and fund leverage
Daily QE Chart & $$ Reality
We are old enough to remember the fateful 1998 day that the FED bailed out LTCM. Back then $2bln was a lot of money and we were sold that LTCM was going to take down the global financial system. Well fast forward to today, where every day we have on average $12.8 Billion in QE per DAY!