The Fed announced another round of quantitative easing (QE) today. Since we are just pulling the same dead rabbit out of the has as a couple years ago, I am going to re-post the whole explanation I found last time. Some of the minor details have changed, but it's pretty much the same.
11/13/10
QE2 Is Not A Boat, But It's Costing Us A Boatload.
I was going to write out a long form post explaining QE2 (quantitative easing), I have been reading up and getting all the lingo sorted out so I could make it as clear as possible. Jump ahead two hours and I found this little gold nugget. Thanks to Karl Denninger for making it so clear and easy.
I wouldn't have done any better, remember folks if shooting yourself in the foot doesn't work the first time, shoot the other foot and see if that makes it all better.
So now I guess this is the head shot, four years of failed Obama policies have lead us to a place where we are just going print off an extra $40billion a month indefinately, which will drive up inflation even more. So if you've noticed that the price of EVERYTHING is higher, don't worry, it will go up more. Obama is set on driving this country into the ground.
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