Who’s to Say No? and Other Mysteries of Today’s Too Big to Fail Mentality
The Federal Reserve, announced a week or so ago, is poised to inject $1.2 trillion (whatever that means) into the economy (whatever that is).
Well it’s a big number, that’s for sure. And it’s not as if we actually have it in an account somewhere, to transfer as we might from some federal savings account to checking, nor are we taxing ourselves in order to create it. God, or Heaven, or Bernanke forbid. There is no one forbidding and that’s probably just as well, because the number and the event and its eventual outcome are all fictions—works of the imagination.
I have some experience with that, as a writer of fiction. But have rather none at all of economics, but for standing up to my knees against the current of some eight decades and trying to cast the fly of my own modest life in a way that might bring security safely to the net.
Security is a wary adversary these days and not quite the farmed and eager fish of recent years.
But it will not work, this dynamiting the rivers of opportuni…