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Thoughts Online Magazine
Collected Articles on Culture & Politics
The Magma Chart 
13th-Aug-2010 10:09 am
What's new? Well, as it turns out, we have something new in the US in the Obama Administration:

It's called the "Magma Chart" in reference to the vaguely geological look. What is it? It's the two trillion dollars (note the amount) which is not under the control of Congress that can be spent by the Federal Reserve.

Do you see the point of wanting to bring this under control? It's somehow our debt, but we have no control as to its issuance, or the balance sheet against which it is made? Read the article. Seriously.
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