Twisted Sister and the Federal Reserve
The Federal Reserve’s “Operation Twist” has set the literary- and musical-allusion juices flowing. It is all about the Fed selling or not rolling over short-term debt and buying long-term bonds instead in order to keep borrowing costs low.
But that is frightfully dull for economists, analysts and reporters trying to get attention for their work. So, so far we have heard:
— “Let’s Twist Again”, a reference to the 1960’s Chubby Checker record about the dance craze . Problem is that the second line is “Like we did last summer”, and the Fed did nothing of the sort, launching plain old quantative easing instead.
— Twisted Sister might be a contender, but the heavy metal band’s big hit “We’re Not Going To Take It” probably better descibes market reaction to euro zone debt-crisis policy.
— “Twist and Shout”, a reference to the rock song covered by The Beatles, among, others. This is better. “Well, shake it up, baby, now” could indeed be the clarion call from financial markets for the Fed to so something, almost anything. But “Come on and twist a little closer, now, and let me know that you’re mine” might be going a little far.
— So the prize for now goes to literature not music: “Oliver Twist”. Young Master Twist’s “Please Sir, I want some more” just about sums it up.