POWIP Piece of Work In Progress – Former Abode of Dan Collins

November 22, 2010; a day that will live in infamy

At least from an economic point of view.  Because today the Federal Reserve will officially become the largest holder of U.S. Treasury debt in the world, followed closely by the Chinese and Japanese respectively; thanks to Mr. Bernanke's QE2 policy.  Now, Tyler Durden at ZeroHedge calls it the beginning of the Ponzi end; which may be just a bit hyperbolic.  Still, it does kinda seem like paying your mortgage payment with a maxxed out credit card.

There's a link to a very informative paper on inflation, published by the Von Mises institute, in the ZeroHedge post.  And stay tuned to POWIP for some upcoming installments/discussions of what quantitative easing is, and differing viewpoints of the effects it will have on our economy.

You know, kind of like a balance to all the joyful moments you'll be sharing with your family over the next few days :)

Rocketman