Wednesday, July 31, 2013

Fed Sees Risk of Disinflation, Maintains Bond Buying Pace

Anybody reading my blog for any length of time is not surprised by this headline, despite jawboning to the contrary.  QE to infinity, whether it's tapering, maintaining, or accelerating. QE--it's the gift that keeps on giving.   Or the heroin pusher who keeps on pushing.

Ending QE would be the correct, if painful solution, but denying the addict its daily dose of heroin would induce withdrawal coma.

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