"QE2 is clearly not to blame for the burning of the Middle East, but it has a hand in driving up food and energy prices around the world. Unfortunately, rising food and energy prices act like a tax on the global consumer. You need to spend more of your paycheck to fill up your gas tank or to buy a loaf of bread."
Egypt, others are 'chaffing' under Fed easy money policy - NYPOST.com
The increasing cost of bread in particular has caused many riots in impoverished countries; Tunisia and Egypt are just the most recent examples."
Sunday, February 13, 2011
'Chaffing' Under Easy Money
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