Last Updated Nov 16, 2010 3:39 PM EST
Creature 1: It means they are going to expand their balance sheet and buy Treasuries.
Creature 2: What does that mean?
Creature 1: It means they are going to print a ton of money.
Creature 2: So why do they call it the quantitative easing? Why don't they just call it the printing money?
Creature 1: Because the printing money is the last refuge of failed economic empires and banana republics, and the Fed doesn't want to admit this is their only idea.
Truth hurts, although I must admit animation dulls the pain. But if you think the explanation above is too hard on the Fed and "the Ben Bernanke," check out the following counterpoint. Giving QE a pass, it pins the blame for the shaky economy on Republican presidents past. Th-th-th-that's all, folks!