Balloon Update

clipped from www.forbes.com Don't believe the scaremongering by Wall Street firms about the end of cheap money. Dig into the minutes of the Federal Open Market Committee of Ben Bernanke's central bank and comfort yourself. The great gift of quantitative easing is not yet over, and it won't be for several months, at least. The cost of Fed funds will remain at zero to 0.25%, and the central bank during the next 90 days will buy another $1.25 trillion in mortgage-backed securities and $175 billion in housing agency debt to lubricate the still moribund housing market. These purchases will increase the Fed's balance sheet by another 50% in three months to $3.445 trillion. The nation's money supply is getting another massive injection, as large of a goose as the one it got in late 2008 at the apex of the financial crisis.