From a blogger I respect:
'The Fed has a long history of inflating bubbles using easy liquidity and
then imploding those bubbles with the tightening of credit. It also
has a long history of pretending like it is trying to save the economy
from crisis when it is actually the source of the crisis.'
from:
http://www.alt-market.com/index.php/articles/3941-the-fed-created-the-everything-bubble-and-a-liquidity-crisis-what-happens-next
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