Some people have known for a while that QE in all of its glory has pretty much been one giant economic ruse.
Recall the comment by Larry Summers, one of Obama's favorite choices to replace Helicopter Big Ben. The artful scrambling that took place to undo the damage of that little ditty would make an H-back proud in an Urban Myer's generated offense for those who follow college football.
Here's a interesting viewpoint.
http://www.dailyspeculations.com/wordpress/?p=8540
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IT ALL DEPENDS
It all depends on who's doing the counting.
The new jobs numbers for July came out Friday and they provide fodder for pundits all, pessimists, optimists and the in between. To call them "slightly negative," as one economist did is akin to damning with faint praise, the way academics do when one of their choice candidates turns out to be less than choice and requests a letter of recommendation so he or she can transfer.
In the hierarchy of academic medicine it's a staple technique. When an intern's or fellow's fund of medial know how turns out to be less than the dude driving to local roach coach, this is how they pass him or her along. It's a mini-version of too-big-too fail.
http://news.investors.com/newsfeed-ap/080213-467065-us-employers-add-162k-jobs-rate-falls-to-74-pct.aspx?ref=HPLNews
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