On Sept. 20, well known and well respected economist Jim Grant spoke in an interview on the ramifications of the Fed's new QE4evr policy. In his assessment, Americans, as well as our economy, are simply lab rats in a great experiement by the Fed, to try to learn how things work, and in particular, how their Keynsian money printing actions effect everything.
...so too does Grant believe that the Fed is "learning by doing" and follows up by clarifying that this is an experiment, "and we are lab rats in the financial markets." He then proceeds to lament that the credit markets, clueless NYT econopundits notwithstanding, have now lost all informational value as every rate instrument is purely in the manipulated domain of the Fed. "We are all living in a land of speculation and manipulation" - Zerohedge