QE4 Arrives: Mystery Drone Rains Money On People In Michigan, Cash-Grabbing Frenzy Ensues
With the Fed’s Stanley Fischer yesterday reminding everyone of what Jim “QE4″ Bullard said a month ago when he hinted that the Fed may be hiking rates only to slam the economy into a recession thus leading to a prompt rate cut (also known as the top Jean-Claude Trichet trade of 2011) and then launch QE4 promptly thereafter, some have wondered – what will the Fed’s next quantiative easing episode looks like?
The reason for the confusion is that in recent public statements, Yellen has expressed a concern with not only market overvaluation but also complacency: which is why using even more Fed reserves to prop up the artificially inflated and ever more liquid markets would be myopic as it would push stocks even recorder without leading to any economic benefits and certainly no benefits for 90% of the population.
We got a glimpse of just what Yellen has in mind for the next ‘monetary transmission mechanism’ yesterday, when a mystery drone appeared above the Rosa Parks Circle in Grand Rapids, Michigan and literally rained down money on the people below, leading to what the Mail describes as a “cash-grabbing frenzy.”
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