That’s how much the price of EVERYTHING has gone up IN AMERICA since Christmas Day, just 6 weeks ago. This is according to the very reliable Billion Prices Project at MIT, which collects pricing data every day from online retailers using a software that scans the underlying code in public webpages and stores the relevant price information in the database. The daily online index is an average of individual price changes across multiple categories and retailers that provides real-time information on major inflation trends.
Fed's Losses Since The Start Of QE2: $76,814,152,246.00
Submitted by Tyler Durden on 02/12/2011 15:52 -0500
Debt CeilingFederal Reserve
From John Lohman
How do you hedge the interest rate risk of a $2.5 trillion dollar fixed income portfolio that has a modified duration of 4 and is levered 50 to 1?
Easy if you’re Chairman VaR-be-damned Burnbanke - just tuck a few sentences inside a routine weekly release which make up new (and one might add illegal for anyone without the magic Gutenberg – best of luck to the auditors at Deloitte) accounting rules which effectively transfer the interest rate risk of the entire $2.5 trillion 50-to-1 levered hedge fund to…the U.S. taxpayer. So, the Treasury is borrowing from the Fed, which, when it loses money on those loans, will then borrow from the Treasury, which will probably still be borrowing from the Fed.