Sunday, November 17, 2013
The Sunday Funnies; Fed 'Siren Song' is Starting to Sound Off Key
Keystone provides a humorous cartoon for the Sunday funnies. Future Fed Chair Yellen sings a siren song luring long traders into the deep end of the pool, promising vast riches and pleasure beyond their wildest dreams. The S.S. Wall Street careens towards the rocks as the boat is fully loaded on the long side. Everyone is drunk on the Fed's wine and hypnotized by Yellen's sweet siren songs. The Fed believes, for 5 years now, that unlimited QE forever will eventually boost the economy. No one ever asks the question, "what if QE doesn't work?" So far QE has made the rich richer, and the poor poorer. The Fed's QE siren song is intoxicating.