Tuesday, June 5, 2012

Hussman Renews Recession Warning

"I expect that the U.S. economy is presently entering a recession, which is global in nature. It is unlikely to respond meaningfully to monetary stimulus, which has already gone well past the point of diminishing returns, and on to the point of recklessness.
"At present yields, a further round of QE would essentially amount to fiscal policy, subsidizing bond market speculators and banks, and ultimately producing near-certain losses for the Fed, after interest, and at public expense." John Hussman, Ph.D.