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Federal Chairman Bernanke is touting job growth in the auto and housing industries as his strategy of holding interest rates low and pressing bond purchases boosts both. |

(Photo: Joshua Roberts/Bloomberg)
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***, DONT ROCK THE BOAT, Mr & Mrs Congress.
Ben is still having a hard time convincing people he filled Alan's shoes...
Are there beneficiaries other than Wall Street bankers?
Ben is a supposed scholar on the great depression unfortunately for all of us there is no evidence that QE creates jobs. Curious to see how this all unfolds over the coming years.
I am reminded of the adage "it is easier to destroy than to build", expecting jobs to return with the speed at which they were lost is a mirage or only the untested can expect. Sure the govt. did overstate the # of jobs that the stimulus will create, the fact remains the damage to economy was indeed worst than initially estimated. The stimulus or other fed. actions is/was to stop the damage already done, and hence build from that, by know means the best or worst of solutions, the alternative of doing nothing is definitely not an option, knowing what we know now.
QE1+QE2+QE3+...+QEn <> Jobs. Ben, give it up or at least disclose what your true motive is.
+Carroll Hobbs, your reasoning does not hold any water. First of all, research shows that Bernanke's money printing spree has done nothing to help jobs. But this is nothing new. Just look at what happened with Germany in the early 20's. Destroying your currency by printing more and more money is retarded (it enslaves, not frees the people). Read this:

Furthermore, just because Bernanke, as you say, "DID something," doesn't justify it. Sometimes, the best action is inaction. Every time there is uncontrollable excess in a society, the best and only course of action is to let this excess dissipate through a natural, albeit painful unwinding process. I'm not saying it would be pretty, but when a family, society, or government borrows money to death and spends, spends, spends as if there was no tomorrow, there's a consequence associated with it. They cannot run away from that by doing more and more of the same. That would be insane, as Einstein said.
+Forex Day Trading That'll be the day when an appointed official in a democracy goes for 'inaction'. But that's off topic. Printing money is probably all that is left to comply with whatever the Federal Reserve mandates are (haven't seem them, but for sure they are written somewhere).

Value destruction achieved by banks, that mostly knew what they were doing, and investors, that were mostly unaware of how were being led, could only be compensated in a short period of time with a huge ball of money, be Greenspan or Bernanke at FR and Bush, Obama, McCain or Romney at WH.
+Jose Porto, "all that is left to comply?" Not really, the only thing left to do is to "walk it off." But obviously the Fed doesn't care. The government can just keep printing money to pay for things, but people get poorer and poorer because their money is worth less. 
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