VodkaPundit

Here We Go Again

The Fed has a plan the economy that has just got to work:

The U.S. Federal Reserve runs the risk of diminishing returns from its next round of money printing to amplify the subdued economic recovery, but that won’t stop it from trying.

More and more cash being generated, but without a corresponding increase in goods produced… if only there were a word for that.

Although what you have to love best, is that the Fed just doesn’t seem to give a damn if pumping a whole lot of dollars into the economy will do any good or not. Oh, there’s a great chance that the value of your savings will be reduced to nothing. And that the not-indexed-for-inflation Alternative Minimum Tax will take a huge bite out of your earnings. And that interest rates will skyrocket and unemployment will rise again and that the price of oil (and gold and food and every other commodity) will shoot up.

So sure, there are some potential downsides — and very little likelihood of success.

But the Fed remains “undaunted.”