Phiscal Pouting

That, friends and neighbors, is what a market-wide temper tantrum looks like when someone says, "You need to get a real job, because I'm not going to give you this allowance forever."

The Fed's policy of quantitative easing has been, essentially, a years-long, trillion-dollar annual allowance being given to the financial and business sectors of the US economy ($85bn/mo), and when Papa Bernanke simply suggested that, you know, they start producing something[1] from all this fucking money, they freaked the fuck out.

600 points (4%) off the DJIA from peak to trough, just because "I'm going to cut your allowance if and when you get a raise at work... but only if and when."

You fucking selfish, cowardly, sacks of shit. You just fucking admitted that trickle-down economics are a lie, and you're content, nay, eager to suckle at the trillion-dollar teat until you fucking burst without letting any of that money out of our greedy little hands and out into the real world, where real people need it to make their real situations better.

Allow me a moment to draw a parallel.

The same people who say that any kind of welfare or subsidized healthcare breeds dependence on the part of the poor are the ones throwing these fiscal temper tantrums when the suggestion that, if the economy's circumstances improve[2], there will be less assistance given to the marketplace. Let that lack of self-awareness, crass selfishness, and lack of empathy marinate a while. Projecting their own selfishness onto others, much?

Personally, I don't see anything wrong with the Fed's statement, except perhaps that it should, like the military's terms of force deployment, have a specific draw-down date. "You assholes have eighteen months, after which, we're closing the spigot to the tune of $7bn/month, so in two and a half years, you're on your own. And don't think that sabotaging the economy to prolong this largesse is going to fly. There are plenty of people who still think you fuckers need to go up against the wall for 2007's antics, and they're probably right."

(I wanted to do this yesterday, but work blew the fuck up to the tune of our second-busiest day/week ever, so I had eleven hours of hell to cope with, and had just enough in the tank to come home, make a small dinner, and go the fuck to sleep. I will probably repost a pointer to this on Monday so that it gets a few more eyeballs.)

[1] A decrease in the rate of unemployment and a slight uptick in the rate of inflation[2]
[2] My macroeconomics are rusty, but I'm not sold on the idea that inflation should outpace GDP; those of you with greater familiarity with the subject are invited to clue me up on this argument, from as many perspectives as you've got