|Neal Darnell and the Flash Fire Jet Truck at 2010 Stuart Airshow.|
For a brilliant, concise, insightful and hilarious explanation of QEII in an XtraNormal video that seems destined to go viral, GO HERE.
Tuesday, November 16, 2010
Quantitative Easing II
Bernanke and the Fed are taking a lot of heat, and deservedly so, for their proposed new round of quantitative easing. It's a lot like this picture of the Flash Fire Jet Truck. Although capable of 375 mph, when they haul this thing out for demos at air shows and whatnot, it's all about the smoke and the noise. It's a crowd pleaser, but it doesn't do anything useful. Bernanke is trying to look like he's stimulating the economy to produce jobs, but he's likely to have the opposite effect. Round 1 didn't work. Why should round 2? It's just smoke and noise, and it's not nearly as entertaining as the jet truck.