Mish's Global Economic Trend Analysis: Fed Admits It's Clueless How QE Works; Radical Suggestion: " . . . While these Fed governors are grasping at straws in a tornado bickering over whether to taper or not, let me propose a simple idea: The Fed cannot figure out how QE works because QE doesn't work. Two decades of Japanese QE is sufficient proof. In the US, the Fed did ignite massive stock and bond market bubbles, but who in their right mind thinks bubbles are a measure of success? All of the Fed's modeling is nothing more than a chasing one's tail exercise of economic stupidity. Simply put, the Fed is nothing more than a bunch of Soviet-style central planners with inflated opinions about what they can or cannot do. . . ."
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