MOGAMBO GURU: Now YOU can drop money out of a helicopter!!

Richard Daughty, the angriest guy in economics -- World News Trust

I creep out from behind the couch and nervously peek between the tightly-drawn curtains in the living room. I darkly note that, ominously, things are getting really spooky out there, and I am not a happy dude when I am spooked. Dangerous and homicidal maybe, but not happy. Perhaps even a marked tendency towards loud, hysterical outrage, but definitely not happy.

For instance, how about the spookiness of almost no increase in Total Fed Credit last week? $1.1 billion was almost nothing! Even Currency in Circulation is holding steady.

Of course, we can always count on foreign central banks, which put another $4.6 billion into increasing the clotted hoard of over-priced, low-yielding American government and agency debt in their custodial accounts at the Fed. As an aside, I hear that if you stand downwind of the Federal Reserve, you can actually smell the stench.

But even all that foreign central bank stuff may be coming to an end very soon, as we read on Bloomberg.com that, "Bank of Japan Governor Toshihiko Fukui said Japan needs to adjust rates from near zero percent 'without delay' to prevent companies from investing excessively and the economy from overheating."

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