Yep

QE3 - another big economic sham.

There is no benefit to quantitative ease except you feel richer than you really are. When looking at the costs, the Fed also needs to total up all the damage that it has wreaked on retirees that are living on a fixed income. Most of them have investments tied to an interest rate instrument and have been devastated by Fed action over the past several years. The other people that are hurt are savers. People sitting on cash in checking and savings accounts. Their cash suddenly got worth less than it was yesterday.

and this point:

He also made the observation that there hasn’t been any inflation caused because of previous QE’s. He is right about that. The reason there is no inflation in the US economy today after all the monetary stimulus the Fed has engaged in over the past three years is that there is no economic growth. GDP is flatlining. If we had real growth, we’d have inflation because the velocity of money would flow through the economy.

Our government and economists are really out of ideas about how to start up the economy. I don't think we need to do anything -- just set up rules that are fair and make sense and clear to everyone -- and then let it go. The outcome will take care of itself. By tinkering, we end up picking winners and losers and create stagnation.