And he returns to find the state of the world slightly worse. Things were, of course, pretty bad to begin with, so that’s like Hell being slightly hotter.
The idea that all this monetary madness is only temporary, only to help us get out of the crisis, and that the central banks have an ‘exit strategy’ – a term that I have not heard or seen in any discussion of central bank policy since spring of 2011! – is getting less tenable by the day. There is no exit strategy. Not in the US, not in the UK, not in the Euro Zone.
Calling Mitt Romney. Don’t worry about losing. Worry about winning.