HERE WE GO AGAIN (QE 3)?

Bloomberg had a post up this evening that is going to probably be the first of a string of commentaries and interviews from Fed leaders that state that"Now is just not the right time to stop stimulus".

LOCKHART WANTS TO KEEP THE STIMULUS -
http://www.bloomberg.com/news/2011-05-15/atlanta-fed-s-lockhart-says-it-s-too-soon-to-consider-exit-from-stimulus.html

Atlanta Fed President Dennis Lockhart stated that the Fed should remove stimulus only after the recovery is much more sustainable!  Are you kidding me?  Hasn't he recession officially been over for 2 years?  Haven't we stimulated the economy with trillions upon trillions of wasted worthless dollars already?  So the thought is now that the recovery is not sustainable?  What amount of time would sustainable be?  3 years?  5 years?  According to their definition we'd need to apply stimulus until growth finds its way into the system despite the highest corporate tax rate in the world and a regressive system that continues to make business evil. 

STIMULUS JUNKIES
As a trigger or a condition for pulling back, Lockhart wants to see expansion and health growth.  Just like a drug addict, the economy is showing us now that it is entirely dependent on stimulus to function.  In the same fashion as a user, the US economy now is fixated solely on getting that next high.  Withdraw it or threaten to withdrawal it and you get a serious reaction and tantrum. 

In addition, Lochart commented on the inflation in commodity prices and claims that indeed he agrees with Chairman Bernanke that rising commodity prices are simply just transitory.

PLAYING THE MEDIA NOW -
Remember, this is probably just the beginning of the media blitz where we are told that the only why that we can keep things going is to have more intervention from the Fed.  We are told by Bernanke now that we must raise the debt ceiling or else we'll face doom.  We are told that the recession will come back if we don't supply as much liquidity as possible.  We'll see more Fed Presidents and more government officials telling us that we must be saved by the Fed's actions.  I guess I must ask what good have they done if all we have gotten is a delayed effect of what we have tried to avoid all this time?  Where are the jobs?  Where is that sustainable growth?  The Fed can make us "feel" like we are going somewhere, but we are certainly not getting anywhere.  We're doing a lot at a huge cost to accomplish nothing. 

GOATMUG