Best Bernanke quote of his tenure was when a reporter asked him about his actions basically contradicting his work on more needed stimulus from Japan to avoid the lost decades. He just kind of smiled and said "I'm a lot more sympathetic to central bankers than I was in 2003."

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Don't get me wrong, their methods are unfathomable during macro growth and booms, but we have not and will not exit the recessionary tentacles from 2008 for some time to come.

Agreed, El-Erian nailed it when he said "My generation borrowed too much and now your generation is going to have to deal with it."

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My posts aren't meant to sway you into my camp but I do think a multitude of ideas can only hearken and challenge your own views on how the world operates and how 'models' of expectations and human actors on localized levels interpret data and react in not so EMH ways

Academia has never equaled application. EMH and CAPM are an absolute joke. Your point?

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Now, most on here would have called me crazy while the market was moving upwards almost hitting 13,000 and I decided to short it. I am still short the market and think it has another 5 to 10% to fall before the Fed really decides to do anything.

I think most on here would agree with you. The run up was just to to asset allocation shifts, basically the Fed pushing investors outside of the concentric circle. The Fed bought the large majority of low coupon treasury and mortgage issuance last year and credit was underpriced. The LTRO was a sugar high.

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Now, the topic of QE is another day but as much as I disagree with it, I know how people will react and what the impacts will be.

A lot of people have gone on record predicting QE3, the thing is 5yr/5yr forward breakevens are still sitting around the 2.6% range compared to the 2% they usually become active at. Disagree though, nobody knows what the total impact will be. Who would've thought that QE1 wouldn't put a big dent in unemployment after the mortgage transmission mechanism was one of the Fed's best tools for so long? Who would've thought rates would plummet after QE2 ended at the end of June? shite's hard to judge man.