QE(n), however, is no free lunch. It carries the direct consequence of currency devaluation. Currency devaluation destroys purchasing power through inflation. This reduction in purchasing power, also realized as lower standard of livings, is particularly acute during periods of weak or stagnant economic growth.
Rising costs, anemic job growth, and falling real wages has been fueling the social discontent across the globe. History is repeating, but few recognize it.
Headline: CNN Poll: Obama approval rating drops as fears of depression rise
President Barack Obama's overall approval rating has dropped below 50 percent as a growing number of Americans worry that the U.S. is likely to slip into another Great Depression within the next 12 months, according to a new national poll.
A CNN/Opinion Research Corporation poll released Wednesday also indicate that the economy overall remains issue number one to voters, with other economic issues - unemployment, gas prices and the federal deficit - taking three of the remaining four spots in the top five.
Source: cnn.com
