"Americaâs oil shale reserves are enormous, totaling at least 1.5 trillion barrels of oil. Thatâs five times the reserves of Saudi Arabia!" USA GDP 2011 estimate - Total $15.065 trillion http://en.wikipedia.org/wiki/United_States Saudi Arabia GDP $622 billion (PPP; 22nd)[1] http://en.wikipedia.org/wiki/Economy_of_Saudi_Arabia
Fed QE Money Printing and the Stock Market SPX Index http://www.marketoracle.co.uk/Article27710.html Q Fed Balance Sheet http://www.marketoracle.co.uk/images/2011/Apr/Zeal042211A.gif This first chart highlights the Fedâs monetization since this fateful decision was made in late 2008. The Fedâs total balance sheet, including all the securities it was buying, is shown in orange. The main types of debt it purchased are US Treasuries (red), mortgage-backed securities (yellow), and agency debt (green). Note that these three QE components are shown in area fashion, stacked on top of each other. The red Treasury series, for example, does not run from zero but from the top of the yellow MBS series. UQ
I think that I'll make it a New Year's Resolution to stop arguing with the Pro-QE nutcase contingent around here. It's like arguing about the merits of ponzi schemes. F' it, not worth the hassle.
it's not their fault that they have been indoctrinated by their left wing liberal economics professors.