By ELEAZAR DAVID MELÉNDEZ:
"If it seems like it's been months and months since market-watchers started hyping the possibility that the U.S. Federal Reserve would engage in a third round of liquidity-enhancing asset purchases -- so-called "QE3" -- that's because it has been.
"According to global news database Factiva, the very first mention of "QE3" as a financial term was on Sept. 28, 2010, when former derivatives trader Todd Harrison wrote on the financial education site Minyanville.com that "there ain't gonna be no QE3."
"At that point, the Fed had not even officially revealed QE2, and it only hinted that it would pursue such a policy. Yet Harrison was certain that was about as much as the central bank could stomach.
"Think Rocky Balboa at the end of the first movie; there ain't gonna be no rematch," Harrison noted, adding that QE2 was "the next to last bullet (and you know where the last one is pointed)."
"One year, 11 months and 14 days later, having gone through a sovereign credit downgrade, the near-collapse of the European financial system and an anemic recovery that has only marginally helped stop the carnage in the labor and housing markets, the vast majority of financial pundits, including Harrison, believe QE3 is "pretty much a given. ..."