Another one with a nervous breakdown. You and Tsing Tao on ignore. Find someone else to unload your frustrations.
And you're certainly not one of them. QE, along with ZIRP, definitely had huge roles in creating asset bubbles. No magical hand-waving or question-begging academic theories will change that.
Another frustrated loser. Another one for the ignore. Why don't you call the President and say you are better qualified than Bernanke? Get out of your dirty pyjamas, put on a suit and go to guide the FED. It sounds like you know everything. Except this of course: http://research.stlouisfed.org/fred2/series/M2V Just say that you don't know a few things but you have been an active member of ET forum and you qualify better than Bernanke. Good luck in your new job.
1) I didn't say everything hinged on the velocity of money using the Fed's definition and data. You may frame the issues that way, but that's certainly not the only way to look at it. 2) This "you're not as qualified as Bernanke therefore you can't say anything" is about the worst argument imaginable. Bernanke plays with academic theories and developed many of his ideas based on the Great Depression. However, economics isn't physics--there's no way of knowing how his ideas would've played out in the 1930s given all the variables. You can't prove this stuff in a lab experiement. In addition, the world is vastly different than it was in the 1930s. So no, I don't buy into the idea that Bernanke is utterly qualified for his job. He's shown himself to be the opposite time and again (e.g., "worst is over for housing" in summer of 2007, panic interest rate cuts after a French trading snafu, visible discomfort when he's asked hard questions, etc).
Damn -116 to -30 in about 5 minutes..... This is one volatile market, lets hope it stays like this for a long, long time!
If this market gets green I really think it can close on the highs of the day. Pretty good momentum rip off the lows