QE II Already Working

In Bernake's Washington Post piece he claims that QE II is already working and offers the rise in the stock market as evidence. I guess that means that the Tech Bubble was proof that the Fed's policies were working and the Real Estate bubble was proof that the Fed's policies were working because after all the market rose both times. If the stock market likes it than it must be good for the economy.

1 comment:

Onlooker said...

Yes, it's truly amazing (astounding, horrifying) that we still see this mindset in our Fed chairman after all we've been through. And plenty others too, of course.

I just heard that doofus, Jeremy Siegal, on a talk show spouting his usual nonsense. He, of course, is all in favor of QE and thinks that pumping up the stock market will save us all. Jackass