Brasilian Finance Minister Blasts QE II

http://etfreport.blogspot.com/2010/11/brazil-blasts-us-for-qe2-uncertain.html

Just a few hours ago I said there would be consequences of other countries getting involved in forex, and already there is backlash, this time it’s from Brazil.

You cannot have 457,000 jobless claims and a market trading higher on inflation expectations. The jobless claims prove that QE does not work. The only sector that will benefit from QE in the long run will be commodities, but common, consumer based stocks will get wiped out by the economic contraction combined with the inflationary monetary policy. It’s only a matter of time before Wall St. wakes up and realises this.

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

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