What The Hell?!? Friday - QE II Edition

My reaction to QE II is MEH!  Too little, too late, too short maturities, too little risk in the selection of securities.

Mish, OTOH, thinks "the Fed's misguided Quantitative Easing policy" is a prelude to the end times, and will be the ruin of world economies and civilizations.

I'll probably have more to say on this later. For now, read it and weep.  Or guffaw.  Your choice.

UPDATE:  Krugman reacts to QE Madness, almost using some of my same vocabulary.  Have I mentioned that I love it when Krugman agrees with me?

.