Monday Market Momentum – Prices Go Parabolic
by phil - February 14th, 2011 8:22 am
Two percent!
That's how much the price of EVERYTHING has gone up IN AMERICA since Christmas Day, just 6 weeks ago. This is according to the very reliable Billion Prices Project at MIT, which collects pricing data every day from online retailers using a software that scans the underlying code in public webpages and stores the relevant price information in the database. The daily online index is an average of individual price changes across multiple categories and retailers that provides real-time information on major inflation trends.
In other words, this is not Bernanke's BS – THIS IS REALITY FOLKS – and reality is NOT GOOD! We're talking parabolic short-term moves that you know and I know and the data shows is absolutely happening. Yet the Chairman of the Federal Reserve Bank of the United States of America tells us over and over and over again that it is not happening.
He tells us that inflation was down in 2010 from 2.4% in 2009 to 1.2% last year and that he sees no inflation. In fact, he is basing his mathematical models on it and directing our nation's policies on this basis and he is conducting the most dangerous monetary experiment in the history of the Universe – ALL BASED ON HIS PREMISE THAT INFLATION DOES NOT EXIST!
But, what if it does? What if every other nation on Earth, including now even Japan, who see 3, 4, 6, 8, 12% and 20% inflation are not wrong and it is, in fact, Ben Bernanke who is wrong. I would not be as worried if The Bernank got on TV and said: Inflation is heading up to double digits, which is our plan but that's not at all what he's saying. This means either the Chairman of the Federal Reserver is either lying right to our Congresspeople's faces, under oath, or that he is a clueless policymaker with his finger on the button of a weapon that can wipe out the wealth of…
Thanks for the Gas Money, Mr. President!
by phil - December 8th, 2010 6:26 am
What the HELL has happened to this country?
Did we seriously just spend $830Bn to give tax cuts to the rich when we’re already $15Tn in debt? When 20M Americans are officially out of work and another 30M have jobs where they can’t make ends meet? Did Obama and the Democratic "leadership" just fold like an empty suit and sell what’s left of their supporters down the river and in exchange for what? For the extension of jobless benefits for 2M people while another 450,000 people a week are laid off?
How does it help people who have no jobs to have an extended tax cut? If Obama suddenly found $830Bn to spend, how about spending it to employ 16.6 MILLION people with $50,000 jobs? THAT’S HOW MUCH $830Bn is! Would 16.6M people getting jobs boost the economy? It would do a lot more for the economy than giving it to a few Billionaires so they can buy more BMWs which they can drive to the next foreclosure sale so they can take away the homes of the people they are supposed to be "trickling on."
Aside from the obvious fact that the Bush Tax Cuts certainly didn’t leave us with a strong economy in their first 10 years and we all know that Albert Einstein’s definition of insanity is doing the same thing over and over again and expecting different results so we have to ask ourselves: Has Barack Obama gone insane? Have the Democrats lost their minds or only their souls (and their spines)?
As you can see from the chart on the left, our "leaders" have now endorsed a tax plan that gives families earning less than $75,000 an average tax break of $900. That’s $17 a week! I’m sorry, I titled this article "Thanks for the Gas Money, Mr. President" but good luck filling your tank for $17 a week. In fact, before the Bush Tax Cuts, a gallon of gas was $1.50 but the $3.7Tn of debt we took on from the first 10 years of Bush Tax Cuts led to a rapid decline in the value of the dollar, which cased to price of commodities to fly up as the relative purchasing power of those dollars declined, pushing the price of gas up to a peak of $5 and what is once again $3 and climbing under Obama’s weak leadership.