Global anger at a fresh round of liquidity injections ($600 Billion) into the U.S. economy swelled on Friday as Germany called the move “clueless” and emerging nations protested that it will wreak havoc on them.
Resentment abroad stems from worry that Fed pump-priming will hasten the U.S. dollar’s slide and cause their currencies to shoot up in value, setting the stage for asset bubbles and making a future burst of inflation more likely.
“With all due respect, U.S. policy is clueless,” German Finance Minister Wolfgang Schaeuble told a conference.
“(The problem) is not a shortage of liquidity.* It’s not that the Americans haven’t pumped enough liquidity into the market, and now to say let’s pump more into the market is not going to solve their problems.”
America Told Our Leaders Stop Spending. And they Ignored Us. I believe this Administration and
Bernanke are trying to destroy our Currancy and pile up enough debt that we cannot recover.
They believe we will have to turn to Government and, Socialism is what they have waiting for us.
There is no defense for this new round of spending.
We are being attacked by an enemy and, its our own Government.