Monetary Policy: An unlikely assortment of people ranging from Sarah Palin and Paul Volcker to Rep. Paul Ryan and World Bank head Robert Zoellick all believe quantitative easing is a big mistake. So do we.
The discontent has also gone global. The governments of China, Brazil, Japan, Germany and Russia continue to express concern that the Fed's money printing will distort the world economy and lead to a trade war.
Will it? Since the first round of quantitative easing that ended in March — during which the Fed printed $1.7 trillion in new money — there's no question new economic stresses have emerged between the U.S. and its key trading partners.
Domestically, economic growth has slowed, and we've actually killed more jobs than we've created. Even so, oil has doubled to nearly $90 a barrel, key commodities have soared to record highs and gold has surged past $1,400 — all bad inflation omens. Now, the Fed is embarking on a second round, dubbed QE2, in which it will spend another $600 billion and maybe more. But don't expect it to be any more effective than the first round. LINK TO FULL ARTICLE >>>>
Editor's notes: the Libs are busy laughing at the ignorance of Palin and Company in rejecting the Fed's scheme to monetize the public debt to the tune of $600 billion. Turns out much of the world's opinion is against the Fed's decision.
Do you all understand that Obama is "catching hell" at all stops on his Asia/IndoChina tour More than this, he has managed to insult Pakistan and China for NOT visiting their countries, for not working them into his trade plans for the future.
Quite frankly, when the man goes outside the country, he embarrasses me. Seriously. He has no cultural advisors or, worse yet, he and Michelle do not listen to their advisors. His handling of the Queen of England, the Prime Minister of Russia (Putin), his bowing to other heads of state, Chavez giving him that book on Cummunism in the presence of the press and on and on. He is an embarrassment.
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