GDPhriday – QE Doesn’t Work, Now What?

May 29, 2015 at 08:33 AM EDT

It's been a wild morning already . Dow Futures (/YM) have already swung up and down 100 points as we wait for what is only the 2nd estimate of our Q1 GDP. The first estimate was -1%, which is contracton so, of course, the markets have since made record highs since the expectations are for more QE for a slow economy. But why should we have more QE when the first $4Tn hasn't worked at all? IN PROGRESS

It's been a wild morning already.

Dow Futures (/YM) have already swung up and down 100 points as we wait for what is only the 2nd estimate of our Q1 GDP. The first estimate was -1%, which is contracton so, of course, the markets have since made record highs since the expectations are for more QE for a slow economy. But why should we have more QE when the first $4Tn hasn't worked at all?

IN PROGRESS