Us Simpletons Are Being Prepared for Helicopter Ben's QE3

Set your alarms for August because QE3 is coming. So, are us simpletons really expected to believe that Helicopter Ben is about to be grounded? Even after the Fed said Wednesday that it had trimmed its 2011 and 2012 growth estimates for the U.S. economy, that it projects unemployment to be approximately 7.3% in 2013, and has no clue why growth is slow? And what about Alan S. Blinder's opinion/Fed PR piece in The Wall Street Journal on Tuesday where he lays out the philosophical groundwork for more government spending by basically telling us simpletons that if you think government spending doesn't create jobs then you are an irrational idiot. Blinder, the former vice chairman of the Federal Reserve, gives Helicopter Ben something to hold up and point to when he announces QE3 at Jackson Hole in August. Sure, notes from analysts, like one from Barclays Capital that said, "The Fed statement was largely as expected...confirming our view that the bar to any potential QE3 is quite high," might make an investor pause and consider the market without the presses running at full power, but that might also be what is needed for QE3. The bar might be high but it is not out of reach and possibly a bear market will get us there. Investors who want to bet on a decline in the markets can buy ProShares Ultra Short Dow 30 DXD, which seeks to correspond to twice (200%) the inverse of the daily performance of the Dow Jones Industrial Average Index. A bullish play could be ProShares Ultra QQQ QLD which seeks to return twice the daily performance of the NASDAQ-100 Index.