NPR’s Adam Davidson and Alex Blumberg put the cookies on the bottom shelf in their demystification of Quantitative Easing, “really one of the more impressive financial phrases out there, impressive for the distance between how boring it sounds and how dramatic it actually is.”


The right question to ask, in my view, isn’t whether QE2 will work or won’t work, the right question to ask is, “are the assets I own priced correctly, given the full range of possible outcomes?” The right asset, but at the wrong price, will eventually deliver its consequences. If you’re going to consider anything, you have to consider everything.

About Jonathan Smith

likes: everything my wife cooks, refrigerator art, my wife, dogs, kids and friends, lighted christmas balls, vintage boats, children's lit, jesus dislikes: beets, short days, taking lighted christmas balls down
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