In the midnight hour, she cried more, more, more
With a rebel yell, she cried more, more, more
In the midnight hour, babe, more, more, more
With a rebel yell, more, more, more, more, more, more
(Rebel Yell, Billy Idol 1983)
That's right, folks, the good people in the People's Republic of China are stepping up to deliver more free money! That's right, although not confirmed, it looks like number 2 is in the mix again. Keep in mind numbers 1, 3 and 4 have done their part. For you dismal science types, that would be the USA, Japan and the Eurozone.
On our social media, I posted this: Doing the same things over and over and expecting different results (referring to the Fed's announcement of QE4 - that's right four - scheduled for December.).
I am sure most of you recognize this as Einstein's definition of insanity. In a Krugman-esque way, all of these central bankers must think they should have done a massive, huger, collosifical stimulus of maybe 2 gazillion dollars, not the puny billions here and billions there. Could it be they do not understand that what they did cannot work? Must be. Otherwise they are stupid or liars. Far be it from me to call these people such names because they are where they are and I am writing a silly blog.
So they do not understand that they are doing more of what won't work.
Is it any wonder that gold hit an all-time high against the euro and Swissie today?