I understand that there needs to be a coordinated effort across many central banks to steady this credit crisis. The move they have made to work together is great. Really.
But the side effect will be serious inflation. That's a whole lot of cash to be pumping into the world economy. The entire world is going to feel it.
The fallout from the world inflation is developing nations are not going to buy into the idea of globalization in the future. Nations are going to insist on their own food supplies being grown in their own countryside.
Further, we as a nation should be embarrassed that these socialist countries that we mock all the time are having to bail us out of our own foolishness and greed.