‘Green Crack’ Is Drying Up
Despite Fed’s Best Efforts
The addict rifles through the mail piling up on his kitchen counter.
Late electric bill.
Late gas bill.
A warning from his mortgage company.
“Crud. It’s gotta be here somewhere.”
Half of the pile falls, scattering on the floor.
“Sh---”
John bends over to pick up the pile. There, just under the cable bill – that one is always paid on time – is what John is looking for.
“Pay off all your bills!”
“Low your interest rates!”
“Consolidate debt!”
John shakes as he opens up the envelope. A rush of warm liquid power courses through his body. “You are approved for up to $8,000!”
“I swear, this is the last time I’ll ever borrow money,” John says quietly to the cat.
Meanwhile, deep in the recesses of America’s financial power, the Federal Reserve Board considers its next move to keep Green Crack flowing out to businesses and consumers.
The Credit Czar considers his recent efforts:
“Lower interest rates. Check.
“Make it easier for financial institutions to borrow. Check.”
“Let banks use worthless holdings as collateral to borrow money. Check.”
“Print more money. Check.”
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Despite Fed’s Best Efforts" »



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