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DeLong vs. Grant: Is QE3 a lifeboat or torpedo?
With the U.S. economy showing signs of softness as the Fed’s second round of quantitative easing is set to expire, many are asking whether a third round of stimulus is in order. Berkeley’s Brad DeLong and Jim Grant, of Grant’s Interest Rate Observer, offer their differing takes on whether QE3 is a good idea. Source: The Wall Street Journal, June 16, 2011. 2 comments to DeLong vs. Grant: Is QE3 a lifeboat or torpedo?Leave a Reply | |||||||||||
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both….a kick the can down the road temporary lifeboat with a rotten bottom.
the day before its announced(hinted at) will be a year DOW low and summer gold low.
not much of a DOW bounce this time…..diminishing returns?
extend n pretend ’til the next bigbadabust…..pick your gray swan.
Jim Grant again hits nail on the head. Very good presentation. Thanks for having these two on “postcards”…..!!