If the below article about an impending new QE-3 (by any other name) turns out to be accurate we will be off to the races, big time.

The US Federal Reserve Chairman Ben Bernanke said a couple years ago he wanted inflation to be a little higher than average. In the US they use the modified inflation formula called the Consumer Price Index (CPI). It is only about 1/3rd the real rate of inflation. According to Larry Kudlow on CNBC this afternoon the US Fed wants the CPI closer to 4% (12% real inflation). The CPI inflation rate has been slipping recently from the mid 3's to just under 2% now. They want to avoid another recession and deflation at all costs. They also want to inflate away some of the 16 trillion dollars in US debt and 60 trillion in unfunded liabilities. It seems the Federal Reserve is in a quandry. The dollar has risen in value in spite of their efforts to make it worth less (or worthless).

Will they or won't they do what is in the article below? We will know sooner or later. The sooner the better. If they do, then PEM should do very well.

http://www.zerohedge.com/news/part-its-new-qe-qa-goldman-warns-possibility-50-75-billion-flow-program