The Fed could mint not one but two $1 trillion coins. The U.K. government will pay 80% of wages. A global recession of record proportions is a near certainty and coming as soon as next month. Stock markets around the world lost trillions of dollars in value in a matter of hours.
This morning, the Fed promised an open-ended commitment to keep buying assets under its quantitative easing measures—effectively offering to buy the entire market if necessary.
This morning, the Fed promised an open-ended commitment to keep buying assets under its quantitative easing measures—effectively offering to buy the entire market if necessary.
I'm amazed that a large pepperoni pizza is now more expensive than 1 barrel of oil. Short term, cash is king. But in 3-6 months what all this QE and injection of trillions of dollars into the market do to the CPI. I wouldn't be surprised to see some higher inflation.
It is really amazing for a barrel of oil to be so cheap. In my proposed model of using energy as standard unit of value, one pizza contains only 2-3000 calories, which is around 10000 joule. But one barrel of oil have about 1700KWH energy, which is around 6.12 billion Joule, that's 612000 pizza's energy content. It seems the production of a pizza would cost most of the energy from one barrel of oil, a huge waste of energy
