At least one analyst out there actually understands how QE works. Stephen Roach of Morgan Stanley says that QE is one big waste of time. He understands that global imbalances can’t be resolved with kick the can policies.
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.