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Kurt Nimmo Infowars.com November 3, 2010 Earlier today, the Federal Reserve decided to create and unleash destructive asset bubbles that will ultimately devastate the global economy. QE2, or quantitative easing, has commenced, as feared. "The Federal Reserve's proposed policy of quantitative easing is a dangerous gamble with only a small potential upside benefit and substantial risks of creating asset bubbles that could destabilize the global economy," notes Harvard economist Marty Feldstein. "The Federal Reserve launched a controversial new policy on Wednesday, committing to buy $600 billion more in government bonds by the middle of next year in an attempt to breathe new life into a struggling U.S. economy," reports CNBC with sunny optimism. "The decision, which takes the Fed into largely uncharted waters, is aimed at further lowering borrowing costs for consumers and businesses still suffering in the aftermath of the worst recession since the Great Depression." Instead, as a number of economists and analysts warn, the effort will produce a rise in commodity prices, trigger a rise in material prices and increase inflation. "This could bring about inflation and possibly derail the recovery," warned Eduardo Lopez, the International Energy Agency's senior oil demand analyst, in late October. Meanwhile, the Fed keeps repeating its for public consumption mantra that quantitative easing will raise asset values, spur the wealth effect, and magically lift the economy out of its doldrums. http://www.infowars.com/fed-announces-qe2/