"Unhappy people are better off living in the city. A person can live in the city for a hundred years and not even realize that they are already dead and rotting. They don't have time to realize this on their own; they are too busy."
Leo Tolstoy, The Kreutzer Sonata, 1889
02 September 2008
Central Bank Purchases Of US Treasuries and Agencies Debt
Foreign Central Bank purchases of US Treasuries and Agency Debt (Ginnie, Freddie, and Fannie) through the NY Fed Custodial Accounts in 2008. (Thanks to Brad Setser for the graph).