was tweaking the calculator today and decided to crunch some #''s. the bernank (as agent imo) is paying 85 B per month for bad paper from what 20 or 25 banks (primary dealers)? assuming the usa has 300M people with some of those being dependent children, could we say there are 200M households give or take? i think 85B divided by 200M comes to about $425 per household per month or about $5100 per year? the questions is, why not just dole that out directly to the households? even one month would "stimulate" wouldn't it? of course the question is answered in this post:viewtopic.php?f=8&t=32771&p=420164&hilit=dear+reader#p420164
from the article: "If banks did not exist, then it would be seen that central banks could just as easily distribute "money" directly to people from some central location like a post office. But if central banks did so, receivers would immediately understand the fraud that lies at the heart of modern banking – that there is no real money, only printed paper and electronic digits. For this reason, banks provide the necessary curtain behind which OZ resides.
and he did this, as an autonomous extra-existential-market participant, deciding to spend almost $1T annually (the latest dollop mind you), as i said on two dozen specific banks, by stepping to the podium and "announcing" it. no debate, no committe (except secretly among his benefactors), no hearings, no analysis, no oversight, nothing. and there's not a &*%$#@ thing anybody can do about it. and all ostensibly so that enough will trickle out to get enough cashiers and burger-flippers hired so he can say he got the unemployment rate down to 6.5%.
maybe i will do a rough crunch tomorrow. how many people need to be employed to get the unemployment rate to 6.5%? will divide that into 1T to see what kind of annual salary each would get. would a thirty K baseline salary be okay? since econometrics is all about the flow, they wouldn't even have to do anything.
it's this kind of horse-manure being afforded goggle-eyed respect that is dooming our society and world imo. as the marks we will get what's coming to us. happy trails....
Praise the Lord! Praise the Lord, you his servants; praise the name of the Lord. Let the name of the Lord be praised, both now and forevermore. From the rising of the sun to the place where it sets, the name of the Lord is to be praised. Psalm 113:1-3