at least two possibilities:
(i) there had been no deterioration. the situation was dire to begin with, and the bernanke knows printing money doesn't help, but was cornered by the fiscal ways of clueless congress, and essentially has to print and keep printing, and pray; or
(ii) there had been no deterioration. the bernanke knows nothing, except that he actually and truly believes printing is the answer. fearing that he may soon be out of a job, and wants to place the empire more solidly on the path of printing, does so, leaving the next printer in good position to continue more of the same but w/ an excuse ("bernanke did it") or suffer the fall out of withdraw.
it doesn't matter now, as we are tee-ed up, full-on, all-in, and the rest shall play put very predictably in tears for most, sorrow for many, and no joy for even a few.
am now in indonesia, for probably the week, then off to another asean state for a bit.
one note that is in line w/ my suspicions: no nation had stepped forward to complain about the QE-infinity, as all politicians everywhere exhale, thinking "hallelujah".
and so we pray to better prey. |
