No, Gillian Tett Is Not More Optimistic Now than I Am...
Duncan Black Reports from the Dog Track

I Must Say I Do Think It Is Time to Start Minting the Platinum Coins...

S P 500 Index  SPX IND Index Performance  Bloomberg

US Generic Govt 10 Year Yield  USGG10YR IND Index Performance  Bloomberg 1

100,000 of them, worth $10 million each. Billionaires will want to hold some to be cool. Multi-millionaires will want to hold some so that people think that they are billionaires. Use the proceeds to buy back a lot of long-term debt: that's $1 trillion of quantitative easing by the Treasury right there. And if the Fed sterilizes the duration component, that is a massive money stock increase.

Easy to undertake. Intus vires. Gets headlines. Effective. On a large enough scale to matter...

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