“Stocks have barely begun to correct (the S&P 500 is down about 7% from its September high) and the St. Louis Fed president is already preparing for QE4.  But where is the proof – from logic or experience – that QE pays off?  It is a shame that quack philosophers, politicians and central bankers are not subject to penalty. After all, bridge builders and hedge fund managers suffer shame and ruin when their projects fall to pieces.  Fed officials are promising more cash and credit, neither of which they actually possess.  You’ll recall that stocks fell when QE1 and QE2 ended. Why shouldn’t they fall now that QE3 is ending too?”

http://bonnerandpartners.com/get-ready-qe4/

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