To QE3 or Not to QE3?
Noted hedge fund manager David Tepper of Appaloosa Management told CNBCthat “basically Bernanke said no QE3. If S&P is down a couple hundred points and financial conditions tightened maybe they would reconsider.
There is no logic to QE3 now and the only result might be more food and energy inflation. We're in a difficult investing environment." Tepper correctly called the the major stock market rally last September (Tepper Rally).
But outspoken, noted investor Jim Rogers, Chairman of Jim Rogers Holdings recently criticized Bernanke in an interview with Maria Bartiromo. Rogers said Bernanke has “never been right about anything in the seven or eight years he's been down there. I hope he doesn't come back with QE3, but that's all he knows. The thing he knows to do, print money. He doesn't understand finance or currencies, understand economics.”
Rogers thinks Bernanke doesn't understand.
He understands printing money and he's going to print more money whether you like it or not.
It's the wrong thing to do but that's what he'll do.
Tell us what you think.
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