NPR's Planet Money has a fun podcast on making 3 trillion dollars disappear. The conversation is simple enough for John Q to understand, even if a few "technical" mistakes are included. The hosts make a sort-of apology at the end for not talking about the Death Star that is kinda cute.
The big truth coming out of the discussion is something we have enjoyed highlighting throughout our 8 year journey on the other side of the looking glass - NO ONE has EVER come back ! Before the likes of Cullen Roche can snipe the reporters for implying that "banks lend excess reserves"- we all know the actuality Cullen; the other interesting nugget was an estimated IOER rate of 1% next year. Wow.
Glen Hubbard makes a fun appearance toward the end of this discussion. I cut a fast paste to his hit in Inside Job as soon as the podcast ended. His confidence that all will work out fine might as well come from L. Ron. Anyway, another year is almost over and most of it has been wasted wondering if the Fed would finally do a bit of tweaking to the $3T hoard they're talking about. There's 11 months you'll never get back. Hit the NPR Planet Money site and take 15 minutes to enjoy the show. Then ask yourself, "How do you make $3T disappear?" And then ask, "How can that NOT be bad?"