it is all pure insanity and the complete turning of the economy into a bad fantasy script. We are so screwed.
The QE machine is kept going because of weak consumer confidence, high unemployment, weak retail sales, and abnormally low monetary velocity. Through QE, the Fed is using its best available tool — money creation — to remedy the ill effects of current federal tax, spending, and regulatory policies by Obama. Bernanke, an expert in the Great Depression, is trying to prevent the US economy and the world from sliding into a full blown depression. I suspect that in time, Bernanke will be credited with having done just that.