You have been proven right about the definintion of insanity. The question begs to be answered, what does Bernanke know about the economy that has possed him to do this unprecedented money printing?
He is following in Greenspans shoes, creating a bubble in equities, drawing folks into the risky markets to obtain any kind of return...as usual the retail investor is going to get fleeced once the bubble burst. If they are long they won't be able to get out fast enough. History to repeat its self again, it's just the way of things. The little guy always gets flim flamed by the professional crooks on Wall Street.
QE has not done what it was advertised to do, nor will QE3. All the liquidity injected in the economy has only helped the folks with capital to invest in the markets. It has not created jobs or economic expansion. Home interest rates can go to zero, if the banks aren't lending what good has it done, other than continue to finance the nation debt with istoric low rates. Bernanke first and second concern is the S&P, not jobs. His concept of the wealth effect has not worked for the 85% of reqular folks other than drive up food and and energy cost. Don't ever lose sight of the fact that he is a banker first...I say no more QE, let Wall Street stand on its own for a change.