| From Seekingalpha.com: The Fed has not been shy about taking credit for the recent equity price increases. They claim that this so-called "wealth effect" will spill over into the real economy and create a "virtuous cycle" where nominal wealth creation leads to real wealth creation (they have that part backwards – real wealth creation leads to nominal wealth creation, but who needs facts anymore?).
But the Fed has also been quick to claim no part in the recent commodity price spike (also no mention of the continuing house price declines, but again, who needs all the facts when you can better prove your point by leaving most of the facts out of the equation?)..............................................Full Article: Source
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