Ultra Easy Monetary Policy and the Law of Unintended Consequences

This white paper appears to be authored by a "conspiracy theorist" since it makes so much sense on the unintended consequences of printing money out of thin air.  Only problem is it was written by the Fed itself, the Dallas branch to be specific.  Paul Krugman, you have been wrong, and you continue to be wrong.  But keep kissing that Nobel prize in your trophy case if it makes you feel any better.

Heck, Ron Paul, the Fed's biggest critic, could have written this paper, and everybody would have dismissed it.  But now the Fed is criticizing its own policies?  Blasphemy!

http://www.scribd.com/doc/104109398/Dallas-Fed-QE