I heard it in the headlines It's news all over town We might be double dippin' Green shoots have all turned brown
It's a balance sheet recession With a housing overhang But they've got a brand new program And it will start you with a bang
And it's called, quantitative easing They say results are always pleasing. When liquidity all starts freezing Just warm things up with quantitative easing
I will say it straight and simple It's clear, just like a bell There's some long term bonds to buy There's some short term bonds to sell
Don't talk about the good times Don't ask me where they went Just move your inflation target On up to three point five per cent
And it's called, quantitative easing This ain't no joke, it ain't no teasing When the GDP starts wheezing Treat with a shot of quantitative easing
Good and magic things will happen It might take a week or three Unemployment plunging downward Recovery shaped just like a V
You'll see Nobels at the Treasury There'll be rock stars at the Fed It'll take hair off of Krugman's face Put it on top of Ken Rogoff's head
And it's called, quantitative easin' This ain't no scam, so don't call no policeman When the engine of commerce starts seizin' Just add a quart or quantitative easin'
Show no mercy to the critics Don't let no one stop your nerve You can mock Ricardian Equivalence You can laugh at the Laffer Curve
Tell that guy at the Minneapolis Fed To shut up, or you'll break his legs And if the Bond Vigilantes don't like it? Well, they can go suck eggs
And it's called quantitative easin' You know I say this for a reason When the economy just sits there squeezing Loosen things up with quantitative easing
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