On Aug 7, 2011, at 12:21 AM, Mike Beggs wrote:
> I haven't followed QE 1 and 2 all that closely, but I wouldn't say
> it's been a failure. It's at least helped to make banks liquid enough
> to lend should they want to...
I'm in a hurry now, but I just want to say: But they don't want to! QE stoked inflation expectations among money managers, who pumped megawads into commodities. That's about the only real-world effect.
Doug