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"Who will benefit from another round of stimulus by the Federal Reserve?"
asks Fox News anchor Neil Cavuto. Could Fed easing help President Obama
and hurt Mitt Romney? (Romney has announced plans to replace Ben Bernanke)

Mr. Smith says another round of Quantitative Easing (Q.E.) stimulus will
not do anything different than the last two rounds of Q.E., except to boost
the stock market temporarily and boost Obama's approval ratings.

Smith says it's a mistake to think the stock market is the same as
the economy. Yet, if the public sees stock prices rise and their 401k
values rise, they also presume the economy is recovering. Not true.

We do not have a liquidity issue today, we have a confidence issue.
American workers and investors have lost confidence in our leadership
and wonder if their job is secure or if their taxes are about to rise
dramatically in 2013.

Smith says Ben Bernanke is not sinister, he is just following the same old
Keynesian playbook of throwing money at economic problems, virtually
forcing investors who are looking for yields to move cash from the
sidelines into the stock market.

The big problem lies ahead. When the trillions of dollars now on the
sidelines hit the market all at once - it could send U.S. interest
rates and inflation soaring to 1979-80 levels of 15% or more.

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