You can hear the panic...

Just listen to this.  Perhaps we are finally past the denial stage?  Step on the QE gas pedal is the ONLY proposed solution.



Denninger says this on QE:
QE is in fact DEFLATIONARY, as all such programs in fact exchange interest-paying debt for cash, which bears no coupon.  It is therefore deflationary, not inflationary, and you both know it and are lying about your intentions and actions in this regard.  It can only be inflationary if the cash injected can make its "turns" in the banking system.  But in a debt-saturated economy, and we are in one, such is impossible and as such the removal of that coupon from the economy serves to deflate, not inflate.


And so...the wheels on the bus go round and round...right off the cliff.