After many years of credit binging and monetary mismanagement, the sorcerer's apprentices at the Fed are having to bail hard as the credit tsunami crashes.
Thanks to Sean Corrigan of Diapason Commodities Management for this chart.
"what should you do to avoid being an idiot or a swine? Merely this: You should do something great, you should lay aside all the foolishness of a more of less long existence, you should become resigned to the fact that you will seem ridiculous to a race of janitors and bureaucrats if you are to enter the service of Splendor. Then you will know what it means to be the friend of God. The friend of God!"
Léon Bloy