Wednesday, April 08, 2009

Dubai de-pantsed

so, you got your own stink eh? good to know.


Jego said...

This is what happens when you build stuff based on credit that is based on money that is based on nothing.

Here's your Fed chairman:

What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.

grifter said...

and in this blog, we got ... nothing.