Today, the S&P 500 made a round trip back to where it was when QE2 was officially announced in November. So much for printing our way to prosperity...
Over the same timeframe, Gold has done this:
As a result, the S&P 500 priced in gold ounces is extremely close to the March '09 lows. The S&P 500 costs just 0.73 oz of Gold. What a steal!
Can I interest anyone in a QE3?