QE2 Locked In

Well, we have 14 months now with unemployment above 9.5% even after spending $3T in stimulus and TARP funds. Now the Fed and Obama administration want to spend up to another $3T on the hope that economy will generate spending and jobs.
Best estimates are that it will take years for employment to return to "normal" while others say that this is the new normal. Some believe that the US economy is finished and never will recover from this depression.

The DOW rose to 11006 on bad unemployment news, investors hoping that the Fed would print dollars, making their stock holdings worth less. People are strange! The dollar tumbled while oil and other commodities rose as investors sought safety in real wealth.Grain futures surged on news of shortages which made grain a particularly good hedge against the coming inflation.