Marc Faber : Fed's easy money "creating massive bubbles outside the U.S."

If the U.S. cuts rates, it will have Asia’s blood on its hands. The Fed is pursuing an easy monetary policy that is creating massive bubbles outside the U.S. The Fed’s actions threaten to spur inflation in India and China, where stocks have soared to records as a stampede of foreign money stokes share and property prices. Chinese and Indian shares have added $882 billion since the U.S. reduced rates on Sept. 18, almost a third of the $3 trillion gain in their combined market capitalization this year.

~Marc Faber, "India, China Face Fallout as U.S. Cuts Interest Rates," Bloomberg, October, 31, 2007