Helicopter Ben's Magic Printing Press Game

Apparently the notion that Helicopter Ben will turn his Magic Printing Press back on at the November 3 Fed meeting is now common knowledge, but apparently people in the know are saying it'll only be half a trillion.

Ben Bernanke doesn't even get out of bed for half a trillion.

About 70 percent of the 67 respondents, which include economists, strategists and fund managers, believe the Fed will begin quantitative easing again.

Of those, 80 percent believe the Fed will start before the end of this year. November is seen as the most likely month for the Fed to restart asset purchases by 38 percent of those who took the survey, but December was a close second with 32 percent.

“The trigger for the resumption of quantitative easing late this year will be an increase in unemployment back into double-digits,” wrote Mark Zandi, of Moody’s Economy.Com. He thinks the Fed will act in December and ultimately purchase an additional $1 trillion in assets.

The Zero Hedge boys think that number is going to be significantly more than Zandy's $1 trillion guess. I'd go with them if I had to.  What makes me think November rather than December?  Oh, maybe because Japan's third largest consumer lender is filing for bankruptcy today, and as I flagged down last week, the Anglo Irish bank is on the verge of El Foldo.

That humming sound is the Magic Printing Press warming up.  Big time.