So the US Federal Reserve has come out and said that QE2 will be $600 Billion at basically $100 Billion a month.
The best comments (and I shudder here) came from Jim Cramer on CNBC...
- "What we heard from Ben Bernanke today is he is going to adopt a Malcolm X strategy. He is going to get things to go right by any means necessary. And those who want to fight that, be my guest... you are fighting a man who will get the job done by any means possible."
The whole conversation with Cramer came down to this fact: the Federal Reserve has made it their mandate to interfere with the stock market and get stock prices to go up by directly printing money and investing in the market.
I am firmly in the camp that believes this will not rescue the economy. I completely agree with Cramer that Bernanke will try and get things done by "any means possible".
That means QE3, 4 and 5.
More on this to come.
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