QE 3 Coming to a Country (The US) Near You

While QE 2 is winding down, what do you want to bet that QE 3 is on the way? One good excuse we find in the paper today. QE 1 did not work, as I wrote here (if it did, why did we need a QE2?). QE2 will not work (if it did, why are home sales falling?). All the Fed has left is to pour more and more money on the fire and hope it keeps burning. QE3 will work…for a short time. As we learned from the excellent little book Fiat Money Inflation in France, the half life of these interventions keeps getting shorter and shorter until all the money in the world won’t save you.

You (didn’t) read it here first. (Didn’t because we are not fools, we understand that no one reads this blog. Hahahaha).
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