Hussman - "Baked in the Cake"

``To quote my friend John Mauldin, "We are watching the Fed employ a trickle-down monetary policy. They hope that if they pump up the banks and the stock market, increased wealth will lead to more investment and higher consumption, which will in turn translate into more jobs and higher incomes as the stimulus trickles down the economic ladder. The kindred policy of trickle-down economics was thoroughly trashed by the same people who now support a trickle-down monetary policy and quantitative easing. It is not working." ''