Fed inflated to the edge...good to see that Stockton get's it and is warning people. The market is a discounting mechanism that should see the limited ability for the Fed to attempt its hyper-inflation bank balancesheet pumping action...Discounting in the markets tend to start to happen 3 to 3.5 months ahead of an event.
After BURNanke's crazy response to his commodity inflation operations triggering unrest...he will not be able to continue with free reign to buy, buy, buy...so his QE may actually be retired well ahead of schedule...especially with insane lies and incorrect facts that the chairletan of the Fed used in his answer.
Not only will the propped up risk asset bubble explode and the money created by the fed's QE and special operations simply vanish...but we will be left with unknown and highly risky smoldering coals in destabilised nations that will likely give us some very large new headaches and bills.
