I didn't read the rest of the article, so I can't comment on the rest...but the first three sentences are all you need to read! BRILLIANT! Nice post!
The Schizomedia Does It Again
With QE3 about to wind down, some are declaring that the age of Quantitative Easing is finally over. These probably forgot they said the same thing when QE1, QE2 and Operation Twist ended. Clueless "expertise" aside, who can really blame them: by now it has become all too clear that the Fed itself has absolutely no idea what it is doing and has bet (all in) not only the (taxpayer) farm but all of (crony) capitalism, that it can solve every problem just by printing free wealth for 1% of the population while at the same time impoverishing the rest, leading to precisely the record inequality... that the Fed itself ... (full story)