Who's Afraid Of Quantitative Easing?

Robert Peston, BBC Economics Editor, is probably the most trusted economist in the country. This is not saying much, perhaps being on a par with least intolerable lawyer. And to paraphrase Woody Allen, lawyer is only a notch above child molester. Notwithstanding this qualification it is worth having a look at his commentary today on the vastness of QE - Loadsamoney

You will of course be holding off from important investment decisions until you have heard the Overgraduate world economic view, so without further ado I will give you the lowdown. I wonder whether Warren Buffet is one of my followers. The wonderful people at blogger.com make it possible for me to track the distribution of those reading my oeuvre and I have marginally more American hits than British. Which is a bit weird when you think about it.

Anyway that lowdown I promised you. Now it seems to me that economic bubbles burst when even the frigging idiots in capital markets realise that they are bubbles. We had a bubble inflated by private debt and it duly burst when the boys in the flash suits listened to Robert Peston. We supposedly avoided catastrophe and have blown up a brand new bubble using the oxygen of government money. The key's going to be holding your nerve as long as you can and successfully guessing when the coke fuelled loons of the City will twig that this grandiose pyramid scheme has to collapse. Just before that point you must sell up and head for the hills. Your guess is as good as mine.

Last one out switch the lights off and remember - it's only money.