Permabear Edwards: Expect 'carnage' in global markets

QE boosted asset prices in emerging markets

The failure of US quantitative easing is set to cause a 'whirlwind' in global markets, according to Societe Generale's Albert Edwards.

In a update for investors, global strategist Edwards said the Chinese renminbi devaluation is likely to lead to global deflation and recession. Gross: Central banks are casino gambling with QE  However, he placed the blame on US QE for inflating global asset prices and boosting growth in emerging markets. Describing it as a "misguided attempt" to boost economic growth, he said there will be "whirlwind" consequences of the Fed's efforts. "The coming carnage is an indirect result of the failure of the Fed's QE. It may not have done much to boost US growth, but it certainly inflated g...