"The reviews are coming in fast and furious — and they’re downright terrible!
I’m not talking about the latest romantic comedy or action movie. I’m talking about the reviews of the Federal Reserve’s quantitative easing, or “QE2,” program! Get a load of these comments …
• From the central bank president of Brazil, Henrique Meirelles: “Excess liquidity” resulting from QE2 is creating “risks for everyone” …
• From the vice foreign minister of China, Cui Tiankai: “Many countries are worried about the impact of the policy on their economies. It would be appropriate for someone to step forward and give us an explanation” …
• From the finance minister of Germany, Wolfgang Schäuble: “It’s our problem as well if the U.S. is no longer certain that the old recipes don’t work anymore.” Schäuble then delivered the coup de grâce, calling Bernanke’s gambit “clueless” …
• Jean-Claude Juncker of Luxembourg, the leader of a panel of euro-zone finance ministers, seconded the condemnation. He said: “I see more risks and possibilities of global excesses in the decisions that have been made by the Fed than benefits.”
at http://www.marketoracle.co.uk/Article24236.html
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