IT IS CURIOUS HOW NOWADAYS EVERYONE SAYS...OPENLY...THAT ALL THE QU AND MONEY PRINTING WAS DESIGNED TO CREATE A "WEALTH EFFECT"...AND THAT ALONE... WILL LEAD TO AN ECONOMIC RECOVERY... HOW STRANGE...
ITS NOT PRODUCTION...NOT CONSUMPTION...NOT EARNINGS...NOT WAGES...
BUT STRICTLY THE FED INDUCED WEALTH EFFECT FROM MAINTAINING STOCK PRICES WITH CHEAP MONEY...THAT IS SUPPOSED TO "CURE" THIS DEPRESSION...
THAT IS SO ODD AND INCREDIBLE AND SHAMEFUL...YET, IT IS OPENLY ADMITTED ON THE STREET... BERNANKE HAS OUR BACK...THE "BERNANKE PUT" IS ALL WE NEED TO RECOVER...!
SO THE FED'S TOTAL SLAVERY TO THE STREET AND THE ASSET MARKETS IS NOW CONVENTIONAL WISDOM...
VERY ODD...WE CAN PRINT OUR WAY TO A RECOVERY...WHEN THE DEPRESSION WAS CAUSED BY THAT SAME PRINTING AND HYPER-LIQUIDITY...!
HOW VERY ODD...
