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Insane Fed Should Beware Unquantifiable Outcomes: Mark Gilbert

By Implode-Explode Heavy Industries

``The worrisome thing about so-called quantitative easing -- a concept still novel enough to mean whatever the Humpty-Dumptys in central banking want it to -- is that its consequences remain unquantifiable, and the perceived need for more central-bank purchases of securities should make investors uneasy... Imagine a surgeon telling her patient she wasn?t sure what size scalpel she?d be using or what the likely outcome of the procedure might be. Or an architect admitting to a planning committee that he wasn?t confident about his stress calculations or the durability of the newfangled materials he was using. ''

Full post as published by Mortgage Lender Implode-o-Meter on October 29, 2010 (boomark / email).