I’m a huge fan of Rick Santelli, as he seems to be the only honest reporter in all of main stream media. The guy gets it and doesn’t care whose feathers he ruffles in the process of stating his opinion.
What gets me is that no one seems to really care about the long-term implications, and whether QE3 will work (I’m pretty sure QE1 & QE2 didn’t quite do the job). It’s the belief that just throwing money at the issue will fix everything. I mean we’ve thrown ridiculous sums of money at our education and we still see dropping literacy rates.
We are nearing all-time highs in the S&P 500 amid some of the worst economic conditions our country has ever seen in ages and we’ve got an artificilally inflated market particularly when you compare it to other countries who’s central banks haven’t taken similar actions as ours have – just look at Australia for example.
But I digress and will leave it to Santelli to explain it much better. 
Santelli says it best.
