CAVEAT: THIS BLOG CONTAINS (albeit often very childish) ADULT-CONTENT.

REQUISITE BLOG DISCLAIMER: Entries at this blog are akin to good old-fashioned campfire chats; I offer no opinion on what you should or should not purchase, or what you should be using or doing. What does or does not work for me could be long country-miles away from your tastes and your needs. Any products, places, and / or whatnots that I review for this blog are purchased at retail price by me. I do not accept payment, gifts, discounts, freebies, products on loan, demon alcohol, drugs, plea-bargains, probation, parole, Presidential Pardons, or any flavor of sexual favors for doing any review.

EU TRACKING COOKIE NOTICE: Our Lord and Savior, The Almighty Gooooogley, bakes those scrumptious cookies and whenever The Almighty Gooooogley cooks something up it means everything related is for sale; it is possible that some of you good souls could be sold-out. The author of this blog sincerely appreciates the many visitors from inside and outside of the USA and feels obligated to mention that YOUR RESPECTIVE GOVERNMENTS (and / or employers) MAY KNOW THAT YOU WERE HERE and they may not approve of you perusing the blog entries regarding GUNS ... KNIVES ... SELF-DEFENSE ... CORRUPT POLITICIANS ... SELF-SERVING ROGUE GOVERNMENT AGENCIES ... GOVERNMENT SPYING ON CITIZENS ... Human Rights ... Freedom of Speech ... Life ... Liberty ... Pursuit of Happiness ... War isn't Peace ... Slavery isn't Freedom ... Ignorance is Weakness ... and all that other "subversive" stuff that worries the living hell out of the dictatorial elite.

Vive la liberté! Vive all y'all!

Ante omnia armari

To each of you ... Thanks for stopping by.

Tuesday, July 15, 2008

Entry for July 15, 2008

The Chairman of the Federal Reserve Board of Governors, Ben Bernanke, today stated the obvious. Our economy sucks and there is no end in sight. He expressed The Fed’s concern about inflation.

It is baffling that The Fed cannot see the obvious; unless The Fed can magically control energy, food, and health care prices, there is not a damn thing The Fed can do about our current inflation. Quite properly, inflation is The Fed’s concern when based on a booming economy fed by low interest loans and easy credit. However, The Fed cannot control inflation in a stagnant economy fed by the rising cost of energy, food, and healthcare. Bernanke needs to quit trying to repair what he has no tools or talent to fix.

The prices of houses are DOWN. Automobile prices are DOWN. The values of our stock portfolios are DOWN. The dividend yield from our savings is DOWN. Employment is DOWN. The purchasing power of our wages is DOWN. Our ability to get a loan is DOWN. If Ben Bernanke believes that a wildly inflationary wage increase is heading our way, he is insane. When sales are DOWN in a depressed economy, just what INFLATION is it that concerns The Fed?

Part of the reason that we have boom and bust economic cycles is because The Fed over-corrects on both the downside and upside. Unless he wants to step forward to accept a large chunk of the blame for our economic mess, Ben Bernanke needs to have a good old-fashioned cup of “Shut the fuck up!”

No comments: