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“Hey, It was a misprint on my teleprompter - What I meant to say was ...”
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Have you noticed of a continual pronouncement of ending or tapering of QE or the opposite in continuation of QE by Fed and exFed employes on a daily or weekly basis ?
This is done to confuse the public from the real purpose of QE.
Dr. Paul Craig Roberts, former Reagan administration Assistant Secretary of the Treasury, explained it best :
Q.- There seems to be a growing disconnect between US stock market performance and that of the real US economy. Is there a real prospect of the Fed tapering or ending QE and what would happen to the stock market if QE is withdrawn?
A.- Dr. Paul Craig Roberts: It is important to understand that the purpose of Quantitative Easing is to boost the solvency of banks too big to fail. The Federal Reserve’s commitment to purchase $1,000 billion of bonds annually drives down interest rates and thus, drives up the prices of the debt-related derivatives on the banks’ books. The policy’s goal is not economic recovery but the recovery of the banks. If the Fed reduces or concludes its bond purchases, interest rates will rise and the stock market will fall. The combination of wealth loss with higher interest rates will prevent economic recovery. The Fed has supplied a lot of liquidity to the banks hoping that the banks can make profits to cushion their other losses. Unless the banks can unload all of their debt-related derivatives, when interest rates rise, the value of the assets on their books will fall.
If a halt to QE means damage to the bond and stock markets and to the banks’ balance sheets, how does the Fed reverse its policy? Probably the Fed’s recent announcement that if everything goes according to forecast, the Fed will begin to taper its bond purchases was directed to alleviate fears about the US dollar’s exchange value.
Benghazi, Fast & Furious, IRS scandal, NSA excesses, Obamacare lies? What difference does it make? Right, Hillary?
I am not a doctor or an insurance salesman, What do I know?
Let me make this clear, I have no idea what I'm talking about !
No big deal! I only screwed five percent of the population.
It could be worse, I could have forgotten to exempt the party members comrade!