If no one seems to care that the Titanic is filling with water, why not drill another hole in it? That seems to be the M.O. of the Bernanke Federal Reserve. After the announcement of QE3 (also dubbed "QE Infinity") created yet another round of media chatter about a recovery, the Fed's Open Market Committee has decided to push infinity a little bit further. The latest move involves the rolling over of long-term Treasuries purchased as part of Operation Twist, thereby more than doubling QE3 to a monthly influx of $85 billion in phony money starting in...
There was no significant inflation with the previous QE. The economy is too deflated. Gas prices are falling as the USA is becoming the worlds #1 producer of petroleum. Foodstamps are the main reason there has been some mild inflation in Consumer Goods, but not the entire economy. Yeah if this was 2006 there would be inflation, but the economy is not robust enough. Read Paul Krugman. He has been dead on.
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