QE2 just gets more amusing by the minute:
"The Federal Reserve asked bond dealers and investors for projections of central bank asset purchases over the next six months, along with the likely effect on yields, as it seeks to gauge the possible impact of new efforts to spur growth.
The New York Fed survey, obtained by Bloomberg News, asks about expectations for the initial size of any new program of debt purchases and the time over which it would be completed. It also asks firms how often they anticipate the Fed will re- evaluate the program, and to estimate its ultimate size. "
What a frickin mess! "Possible impact of new efforts to spur growth".......Growth? Give me a goddamn break.
Folks, let's get it straight: There is no growth from QE2 because the money cannot be placed into the "real" economy unless there is a desire for someone to borrow it.
Let me repeat:
There is no growth from a GDP standpoint with QE unless the money that is given to the banks is borrowed by J6P. If there is no demand for credit(which is obvious) then the money does nothing to help us!
All QE2 will do is create more asset bubbles because the banks will shift the cash into various assets versus lending it to J6P who is broke.
The Bottom Line
This insanity needs to be stopped before our currency is destroyed.
The fact that the Fed is sending out "feelers" for demand is frankly flat out frightening.
This is a total cluster**ck that must be stopped immediately!
It appears that the Fed is playing a game of chicken with the taxpayer as it tries to avoid a bus that inevitably is going to smack them right in the face.
In the immortal words of Susan Powter...STOP THE INSANITY!!!