“ECONOMY WORRIES KEEP STOCKS IN CHECK” (July 16, 2012)
Thus the Financial Times today. “Investors await Bernanke testimony for signs of QE3,” the newspaper adds gingerly. Surprise, surprise. Just assume that the chairman of the Fed will do as the intrepid investors please. Then you can be sure to read in the same newspaper exactly the same words in just a few months. With one small difference, of course. Next time around the investors will be looking for signs of QE4. And so on, ad infinitum: QE5, QE6, QE7…