"Since when has the oil become more important than the motor?"

It hasn't. But in recent times, money has been pretty much treated as a real trade good rather than simply as the oil that renders the running of the wheels more smooth.

Describing money as a lubricant in an engine is only half a story and flawed. You can't make money without spending money. There is an input and an output! There are the employees and the employers. The poor and the rich! The better the economy the richer the rich (nobody else benefits). And the rich in China are the government, extremely centralised, not privatisation!

The trouble with the current U.S. Reserve Bank’s solution to just about everything, socialise the losses, is that the people who created those losses remain in their jobs. The focus has been on the obscene payouts to CEO’s who decimate the value of a company and get a golden handshake. However the real focus should be on the whole senior management structure, indeed the whole company.

If a small business gets its business model wrong, it goes broke and diss-appears. If a large business goes broke the Reserve Bank bails it out and the business continues to pollute the system. The same people who created the flawed business model, and ran it, remain. They have not been taught any salutary lessons.

The financial system has to be cleaned out. Capitalism has a method for doing that: going broke, liquidation, bankruptcy. It not only helps to remove excess liquidity from the system, it removes an excess of incompetent mangers. Not any more, now the ‘mates’ on Wall St., get the sucker public to pay for their mistakes.

I read the ponderous ponderings of the economic elite and wonder how such idiot savants could get such a large seat at the table.

“She’ll be right mate, pour another bucket of (free/underpriced) money on it!”

“Where do you get it?”

“Hello (Mr Bush) Mr Rudd/Swan, have we got a deal for youuuuu!”