This story has been updated to reflect that John Taylor is an economist at Stanford University.
CNBC.com has withdrawn a story titled "QE wind down is 'endgame' for gold, warns Roubini analyst" as the embargo on the story hasn't yet expired.
This story has been updated to reflect that GM and Chrysler received a bailout from the U.S. government in 2008.
An earlier version of this story incorrectly stated the yield on 10-year Spanish government bonds. The yield on these bonds was actually 4.70 percent on Tuesday afternoon.