The Incredible Shrinking Half-Life Of Central Bank Action

The following chart by SocGen shows why the U.S. execise of QEs wouldn't work.  Again, when would it stop by whom?

From Zero Hedge:

It seems the market - or the collection of pre-programmed heuristic biases that make up the equity investing public (and machines) - is slowly but surely realizing the confidence trick that is the Fed's Quantitative Easing programs. The following chart should clarify - to anyone placing their gambling chips on the hopes of another round of easing from the Fed - why the game is up. To wit, the reverse geometric progression of S&P 500 performance during each Fed action: QE1 +50%, QE2 +30%, Twist +18%, QE3 & Twist +8%... so QE4 +4%, QE5 +2%, and QE6 +1%...



Chart: SocGen

http://www.zerohedge.com/news/2012-10-29/incredible-shrinking-half-life-central-bank-action