Will the last year of the Obama administration see an economic downturn, even more, severe than the recession George W. Bush suffered as he left the White House in 2009? On Wednesday, that was the question on the minds of investors worldwide as the Dow lost 550 points in mid-day trading. After a late-day rally, the Dow ended trading down 249.21 points, or 1.56 percent.
Renewed fears swept Wall Street that the global economy was entering a downturn of a magnitude dwarfing the last recession caused by the 2007-2008 financial crisis. WND has reported analysts’ warnings that the Federal Reserve’s quantitative easing policy – under which it printed money to buy U.S. Treasury debt – was an artificial means to contain interest rates as near zero that would backfire in a broad stock market selloff once the Fed began to raise benchmark interest rates. FULL REPORT