Ben Bernanke just blew my mind by saying that the success of QE2 can be measured by the 20% increase in the S&P since Fed announced its intention to launch the program! I'm sure that when QE2 ends in the summer, and the stock market is even more overvalued than it is now, Bernanke will launch QE3 to take the S&P towards its 2007 high! This will end badly.
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