Thursday, December 18, 2008


The fragrant Winchester Whisperer's prediction of zero interest rates has come true. Not only was the US Treasury able to borrow USD32 billion for free, it was able to get a similar amount being paid a miniscule account to hold it. And the Fed promptly dropped its Fed Funds rate to zero as well.
So we are only waiting for the same in UK.
And then all will be well.
Or not.

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