Here's an interesting drawing of a hockey stick. See the entire exhibit at the St. Louis Fed Gallery of Fine Art.
Unfortunately, I have no clue what they mean except what I already know - it's bad.
You, sir, have been tagged.I saw a headline today about bailout funds reaching $7 trillion. I went on a rant trying to explain it all to my kids.In the end, I came up with a parenting metaphor: Congress is the parent and the economy is its child. For years, the parent was feeding the child nothing but tootsie rolls and Dr. Pepper. Eventually, the child barfed all over the place, and then grew weak and anemic. So the parent decides that the best way to return the child to its cheerful, energetic self is to feed it way more tootsie rolls and Dr. Pepper. The sicker the child gets, the more candy and soda it should be fed.High housing prices were like empty sugar calories in the economy. Not healthy but artificial. The government appears to want to artificially re-inflate housing prices in order to bring that cheerful energy back to the economy. Instead, it's going to make the economy barf even more. And soon we'll all be broke.
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