QE3 Tweets: The Greatest Hits

Wisdom from around the Web.

Morgan Housel
Morgan Housel
Sep 14, 2012 at 12:00AM
Other

The Federal Reserve announced another round of quantitative easing yesterday, the third go in as many years.

How's it work? The Fed is pledging to buy $40 billion worth of government securities -- mostly mortgage bonds -- until further notice. There's no time limit and no dollar limit; it's going to buy bonds until things get better. The Dow (INDEX: ^DJI) surged more than 200 points in response.

I know what you're thinking: Have we tried this before?

No.

What's the ultimate outcome?                                         

No one knows.

But, as always, the Twitter universe had an untold number of insights, jokes, and predictions. Here are 20 that stuck out to me.