WE, TEH SHEEPLE
----- Original Message -----
From: "Alphaville" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Tuesday, August 30, 2005 5:33 PM
Subject: Re: a poem


> Thanks Carroll. Now I know where the real poets are. Or soon no man will
> have a house of good ticky-tacky. CP
>
> Carrol Cox wrote:
>
> >[This poem was written by the Fed watcher at Pimco, the biggest holder
> >of US government bonds
>
><http://www.pimco.com/LeftNav/Late+Breaking+Commentary/FF/2005/FF+September
+2005.htm>.]
> >
> >free dumb
> >
> >'tis often said that the truth will set you free
> >but for the fomc
> >freedom is just another word
> >for a free pass to play dumb
> >as they fight lenders
> >lending for free to the dumb
> >who anticipate still dumber
> >to take them out of roofs
> >never intended to shelter from the rain
> >but to relieve the pain
> >of saving from paychecks
> >un-fattened by productivity gains
> >flowing freely to fattened corporate profit gains
> >which the fomc seeks to protect
> >all in the interest of defeating a cost-plus inflationary model
> >which has already been defeated by globalization
> >while giving birth to conundrums
> >which really aren't conundrums
> >unless you seek freedom
> >to target property prices
> >while singing bye to my
> >and let's all share the pie
> >while denying labor its fair slice
> >because you believe
> >the invisible hand works
> >only for the rich list
> >who owns the fist
> >to draft a larger reserve army of the unemployed
> >all in a nairu mist
> >to obscure
> >popping of bubbles
> >that aren't really bubbles
> >unless they prove their existence by blowing up
> >at which time
> >granting free dumb to inflate new bubbles
> >proving the fomc's ability
> >to walk on water
> >unfrozen
> >as they are the chosen
> >to decide
> >who will be cold
> >and who will be frozen.
> >
> >By Paul McCulley,
> >written August 9, the day of the most
> >recent FOMC meeting.
> >
> >
> >