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Brian Cummins · Economics: Making sense of QE2 – Quantitative Easing II
November 7th, 2010
QE2 – a joke?
A man walks into a small town Inn. He asks for a room and puts a $50 bill on the counter.
The innkeeper grabs the $50, runs next door and pays his debt to the butcher.
The butcher takes the $50, runs down the street and pays his debt to the pig farmer.
The pig farmer takes of with the $50 to pay his supplier of feed and fuel.
The supplier takes the $50 and runs to the local prostitute who is also facing hard times and she too has to offer her services on credit.
The prostitute takes the $50 and heads to the local Inn where she pays the $50 bill to the innkeeper to settler her debts.
The man from out of town comes down from his room and not being satisfied, asks for his $50 dollars back and leaves.
No one produced anything. No one earned anything. However, the whole town is now out of debt and now looks to the future with a lot more optimism.
And that, ladies and gentlemen is QUANTITATIVE EASING.
SOURCE:
http://www.edugeek.net/forums/jokes-interweb-things/52105-quantitative-easing.html
QE2 – In Images
REF: Dam sink hole - Morning Glory Spillway and Monticello Dam, Napa County, California.
QE2 – A description:
How It Works; When It Doesn’t
By Sudeep Reddy, The Wall Street Journal, 11/4/2010
Quantitative Easing, Explained
by Adam Davidson & Alex Blumberg, NPR, 10/7/2010
Last 5 posts by Brian Cummins
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