×

Quantitative Easing: Barry White Style

Curtis Threadneedle has put out this Barry White-style ballad about Quantitative Easing. It's co-written by country-western economics star, Merle Hazard.


'Quantitative Easin'

by Curtis Threadneedle and Merle Hazard

SPOKEN

You know baby, in the years I’ve been your central banker

We’ve done a lot of overnight repo lending

And it’s been good, it’s been so good

But the economic situation has gotten serious now

And baby, one night just isn't enough

I want the Fed window to open up

And I want to go longer

I'm not talking about two nights..three nights...a week...

I want to go all the way out the yield curve

SUNG

Quantitative easin’

The time has come to re-lever

Lending short-term...[spoken] baby, that's just teasin’

I want to lend forever

Now the credit markets are misbehavin’

I think they need a spanking

That's why I’m ready to show them

Some very special central banking

SPOKEN

Short-term interest rates are very, very low

My beautiful, beautiful little U.S. economy

But if I limit myself to the two trillion in mortgages and Treasurys I’ve already bought

I will go out of my mind

So I want to buy more

More two-year notes

More five-year notes

More ten-year notes

Baby, I want to buy the long bond

SUNG

Quantitative easin’

We're going to save the nation

It's one part pleasin’

And five parts act of desperation

SPOKEN

I've heard some people say that quantitative easing can be too much

But when you have an overvalued currency, and the ongoing threat of deflation

You can print a trillion dollars, or two trillion, or three

I don't think it can EVER be too much

SUNG

Oh quantitative easin’

We can't target the interest rate

We're gonna have to quantitate?

____________________________________________________

Questions? Comments? Email us atNetNet@cnbc.com

Follow John on Twitter @ twitter.com/Carney

Follow NetNet on Twitter @ twitter.com/CNBCnetnet

Facebook us @ www.facebook.com/NetNetCNBC