Market turmoil signifies a new global financial crisis in the making - World Socialist Web Site
▻http://www.wsws.org/en/articles/2013/09/03/pers-s03.html
Market turmoil signifies a new global financial crisis in the making
3 September 2013
Concerns are growing in international financial circles that the conditions have been created for a major, and potentially uncontrollable crisis, as soon as the US Federal Reserve begins cutting back on its purchases of US treasury bonds under its “quantitative easing” (QE) program.
Since the Fed first indicated last May it would begin the process of “tapering,” the so-called “emerging markets” have been experiencing growing turbulence in their currency and stock markets as the speculative capital that moved in as a result of QE starts to be withdrawn.