February 10, 2015
It should hardly come as a surprise when a hard-core US socialist comes out with demands that his socialist peers in Greece be bailed out by none other than the Federal Reserve: in fact, it does show why while so many quasi-socialists hate when the Fed bails out the “loathsome” banks, they love when the Fed bails out everyone else. And yes, socialists are known to demand for bailouts – in fact the more often, and the more frequently, the better .
And yet, perhaps in asking for a Federal Reserve bailout of Greece, everyone’s favorite Vermont socialist does make some sense: after all if the Fed is bailing out European banks, and just European banks, on an ad hoc basis, and usually quite well hidden (see for example: “How The Fed’s Latest QE Is Just Another European Bailout“), does it really matter if the Fed spends what amounts to one daily POMO amount to save some 11 million Greeks?
In retrospect it may be the most “social” thing the Fed will have ever done.
This article was posted: Tuesday, February 10, 2015 at 6:16 am