QE2 explained by a teddy bear and a kitten

Three different people have e-mailed me this video in the last few hours, getting over 75,000 views in that time and now well over 800,000 total views since being posted 4 days ago. You have to love it when a discussion of monetary policy and the Fed goes viral. That’s when you know that the Fed has some serious credibility problems. And, unlike with Congress, there are serious consequences to when the US’s central bank loses credibility.