With other countries weakening their currencies in order to stay competitive in the import/export game, our Fed is hinting about backing off the hard stuff. But the question remains, how can they? Who will buy our debt if we stop doing it with the virtual printing press? Who will fund our drunken spenders in Washington (and at other levels of government, subsidized by DC’s loose change)? We can’t back off now without a lot of pain, and politicians hate pain, so we won’t. But the pain will come eventually and we will discover once again that there is no such thing as a free lunch, even when central bankers spread the table, bait the trap, transfer wealth, …
The Hilsenrath "Tapering" Article Is Out | Zero Hedge:: www.zerohedge.com/news/2013-05-10/hilsenrath-taper…e-out

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