Saturday, December 4, 2010
Ben Greenanke, Little General, Father Christmas
Ben Greenanke, the Little General, father of QE2, and possibly 3 and 4, has decided it is now or never it terms of fighting any impediments to asset malaise. While real economic growth would be nice, why wait and possibly have real economic price discovery screw up any chances to pull the economy out of a downturn, now three years old. What with gold, oil, and other commodities showing no lack of money supply velocity, in the name all things liquid, why not give equities a blast to remember. While Republicans are spinning tax chants and cursing extending unemployment subsidies, Greenanke has joined the mob turning their collective outrage against those with little political influence in favor of the great business class of Wall Street whom the Republicans have championed for decades and who collectively produced a worldwide economic meltdown. There is no greater friend than Mr. Greenanke, father Christmas. Ben is spraying money like a snow machine hoping it will cover us all in this, last chance, do or die, price asset rally. Bend over bears, Ben is driven.