John Crudele explains the excitement of the Fed’s “taper caper”
Just so you understand what a crazy and dangerous game this is, it was newly created money — the kind that causes inflation and undermines the value of a currency — that was used for the purchase of that $4 trillion worth of government bonds and mortgage-backed securities.
Making December’s guessing game easy (except for this columnist) — but nonetheless thrilling — was that the tapering was supposed to begin three months earlier, in September.
But just as the taper started, December’s jobs report came out and it was surprisingly low.
So now what?
Oh, that’s easy — and Sharp Longtime VodkaPundit Readers™ can say it along with me.
QE now, QE tomorrow, QE forever!