QE2 Is a Total Failure and Bernanke Is Delusional About Inflation

An excerpt from Bob Chapman's weekly publication.

February 12 2011: Quantitative Easing 2 has harsh critics for good reason, Mubarak finally gone, US trade deficit with China at record high, middle east revolutions warn of food crises around the world, Fed balance sheet now above 2.5 trillion due.

The discontent and seeds of rebellion existed for a long time in Egypt as it has in many other countries. The major powers of the world were content with Mr. Mubarak, especially the US, which gave him $60 billion over 30 years and allowed him to move $70 billion over that period into secret bank accounts in England, Switzerland and Europe, while Egyptians lived on the edge of starvation over that time frame. Both the US and UK never saw a dictator they didn’t like. This was their dictator, as was his predecessor. Mubarak did exactly as he was told including doing everything Israel desired. Mubarak represented stability even though his subjects barely survived. Most of the aid sent by the US was used to keep the military and Secret Police strong to enforce his powerful hold over the people. Thus, the US was happy to have such a “moderateâ€