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Market Musings: Time for More QE?
We
have heard it all before. The market is going up because of QE2.
The Fed has got your back. And yes, from early November to mid- February
that is all the market did -- it went up. But a funny thing happened
along the way -- just when investors got comfortable with the idea of a sure
thing -- somebody or something pulled the rug out from underneath
them. And oh my goodness, the SP500 is down a whopping 5% from its
highs. Ruin!!
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Question...is POMO a part of the budget? Or is it a special deal worked out between the treasury and the Fed? I ask wondering what happens to the POMO when/if they don't raise the debt ceiling...
Fed's got our back? Don't be stupid, everything the Fed does is for the banks. Everything the Fed says is to maintain the illusion it gives a shit about anything else. If the banks interests happen to (once and a while) align with anyone else's interestes, then that is just pure coincidence.
Remember the international outrage over QE2? (Oh wait the MSM seemed to forget to report on that one)
Does the rest of the world have the financial will to start dumping U.S. treasuries upon QE3?
I would, no point entering into a loan agreement with the U.S. if you're going to get repaid with monopoly money.
QE whatevers are for the banks.
End of story.