I am currently forced by an academic authority to read the front page and business news, and while I love reading per se (in any form, from menu place mats to ingredient lists to subtitles and literature), the exercise only reminded me why I skip those sections of the paper every time — they scare the bejays out of me.
One of the things that confound me at the moment is the recently announced Quantitative Easing or QE3 by the US Federal Reserve, headed by Ben Bernanke. Basically, the country’s monetary policy authority will be injecting funds into the economy by buying $40 billion in mortgage bonds per month seemingly indefinitely, in efforts to boost employment. When asked how this policy will benefit the people, this is Mr Bernanke’s response:
