Brace for a QE3 comedown

As markets bask in the glow of QE3, Washington remains divided on its approaching fiscal cliff while US corporates, increasingly fearful of a European style austerity regime, are slowing capital investment.

I suspect that when the Bernanke celebrations die down the fiscal cliff will dominate the headlines.

At the weekend the veteran US economist Al Wojnilower sent me a note showing how the fiscal cliff will prevent Bernanke’s QE3 from rekindling US corporate investment and/or consumer spending to lower unemployment.

{{content.question}}

{{ twilioFailed ? 'SMS Code Failed to Send…' : 'SMS Code Sent…' }}

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa
Mastercard

The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device


Register as a new member

(using a different email)

Related Articles