Again, QE is not inflationary
And to futher hammer the point home that Quantitative Easing is NOT inflationary (as explained in these posts:
-- One of the smartest comments I have read yet regarding Quantitative Easing
-- Follow Up: QE is not Inflationary, Thoughts on Risk Asset Instability
), and is in fact slightly DEFLATIONARY, see this:
Federal Reserve to Return $76.9 Billion to US Treasury From What Central Bank Earned in 2011
Yes, income the economy would have earned without QE…
But then for those who call this Government Debt a 'burden on future generations' read this:
What would happen if the US Federal Government stopped issuing bonds?
We continue to see evidence that the US will *NOT* go the way of Greece (the US and EMU operate on fundamentally different fiscal and monetary systems) and in fact based on policy decisions we are heading in the direction of Japan.