What’s the harm? Even if it doesn’t work well or much at all, this QE stuff can’t hurt. Sure, it’s a lot of noise but that’s really the point; expectations-centered policy is all about managing expectations, so if the general public is treated to a spectacular show, the bigger the better, eagerly enthused by the entertainment all is expected to be well.
Or at least not as bad as otherwise (jobs saved, in other words).
For those who continue to see all this as real money printing, an historical dilemma allegedly alike only Weimar Germany, therefore what a week to be highlighting these issues. Inflation numbers in China (PPI) were reported earlier to have been the highest in almost thirteen years while the US CPI – as you no doubt heard yesterday – was like something out of the 1980’s; near literally.
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