Doug Noland - "Night and Day"

``... if the Fed chooses to inject liquidity into a speculative marketplace, the new purchasing power will not gravitate to low-risk strategies. Indeed, some years ago I would write "Liquidity Loves Inflation," noting the strong proclivity for liquidity to chase (outperforming) asset classes demonstrating the most acute "inflationary biases." Since mid-November, SunPower is up 614%, Tesla 480%, Netflix 302%, Green Mountain 224% and Facebook 128%. Treasury and MBS prices are down slightly. The Fed is delusional if it doesn't believe QE is inflating speculative Bubbles''