This is not just QE3, this is in effect QE 3, 4, 5, 6, 7...etc...

This is not just QE3, this is in effect QE 3, 4, 5, 6, 7...etc !
Benanke had no choice as many commented previously, the only question is why he took so long to do what he had to do.

Perhaps the answer is in the article below from Krugman, see NY Times.... Unless the political system in the USA starts to work according to its constitution and true purpose....then the printing presses will be going for a long time....

Money into gold for sure, as all the printing presses are going to be working day and night....QE3, QE4, QE5...bth sides of the Atlantic Ocean (and lets watch France!)


Obstruct and Exploit
By PAUL KRUGMAN
Published: September 9, 2012 897 Comments


Does anyone remember the American Jobs Act? A year ago President Obama proposed boosting the economy with a combination of tax cuts and spending increases, aimed in particular at sustaining state and local government employment. Independent analysts reacted favorably. For example, the consulting firm Macroeconomic Advisers estimated that the act would add 1.3 million jobs by the end of 2012.

There were good reasons for these positive assessments. Although you’d never know it from political debate, worldwide experience since the financial crisis struck in 2008 has overwhelmingly confirmed the proposition that fiscal policy “works,” that temporary increases in spending boost employment in a depressed economy (and that spending cuts increase unemployment). The Jobs Act would have been just what the doctor ordered.

But the bill went nowhere, of course, blocked by Republicans in Congress. ........