Did you catch how England is blaming us for their rising commodity prices because of QE? Of course, no talk of their own rounds of QE. The Bank of England’s posting of record profits was met with 2-parts scorn and 1-part laughter, since it was all “electronic” QE money.
America is exporting its inflation.
Oh yeah! EU and UK are in big time trouble -- far worse than US. Personally, I believe the recent sell off in stocks is because of the dire situation in Europe. Besides Greece, Portugal and Ireland, Spain and Italy are in dire straights, with Italy's bonds on the verge of collapse. Add that France and Germany are showing signs of not wanting to bail out their "friends", and there is a disaster looking. US debt, on the other hand, is still paying interest rates Lower than they were a month ago, and rates on the 30 yr treasury has only ticked up 0.2% since friday.
The current state of panic has more to do with EU and UK than anything else.