QE can only redistribute wealth, can not create wealth. If the president sign an executive order that turn all dime into dollar and all one buck into ten bucks... across the board evenly. It will have zero impact on anything, that is one end of QE with no effect. But if QE is for part of, not everyone of the economy, the one gets the QE just unfairly diluted everyone else assets. If the beneficiaries of the QE are the most productive sector of the economy, the QE can be beneficial to the whole economy. The QE used for welfare, corperate or private citizens, are the least productive. The QE is detrimental to the whole economy.
Interesting chart showing POMO / market. http://www.chrismartenson.com/martensoninsider/martenson-insider-fed-pomo-activity-and-stock-market
How can they announce a long-term schedule, given that the current asset purchase program (which is implemented through the POMOs) is based on re-investing of MBS and agency debt proceeds, which are uncertain? When/if they do QEII they'd announce a specific schedule, just like they did with the original QE. Chris Martenson is a funny guy, btw.