So conventional wisdom is now leaning towards the Fed doing more... something... next month. Presumably this means more goosing of asset prices which, with a bit of luck, might do... something... maybe.
I'm generally of the 'anything is better than nothing' view when it comes to trying to boost aggregate demand, but we should recognize that miraculously we have yet another justification for doing more to help rich people.
Send everyone a $10,000 platinum coin already. Problem solved, recession over.
