I only wish that the media and economists would call quantitative easing what it actually is; inflation of the currency. Inflation is the invisible tax which Austrian economists rightly call theft.Drum roll...
The biggest speech of the week is coming up: Bernanke's 10:00 AM ET speech at the Jackson Hole Economic Symposium sponsored by the Kansas City Federal Reserve.
It was at this venue in 2010, when he introduced the world to QE2, a scheme whereby the Fed would purchase long dated bonds with the idea of pushing money out of the Treasury market and into more risky assets, and hopefully the real economy itself.
Does anyone give a crap what the Bernanke says anymore. It's never good news. It's never economically sensible.With the economy growing (but underwhelmingly so), and Europe and China both flagging, there's a lot of hope and hype about what he might say, and do.
There are very few clues. One is that the title is going to be: Monetary Policy Since the Crisis.
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http://www.businessinsider.com/bernanke-jackson-hole-preview-2012-8
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