Bernanke (the little cocksucker) will be remembered as "the super inflationist who lead the US down the path of financial destruction". The shit will hit the fan sometime on his watch or shortly thereafter, so that Greenscam will be mostly forgotten. The SOB Greenscam should be remembered as "the greatest financial criminal" of all time.... unless, of course, Bernanke is remembered as "even worse".
Come on guys, don't we have faith in this new, bold "inflation targeting" fed. Wasn't that supposed to be the ushering in of a new era, rates pegged to target inflation? Up is down, down is up. Bold, Brave New World! Good Luck!
Helicopter must have some serious input on those CPI number that keep coming out with 2% annual inflation. In which world? The world where people don't eat, don't drive, don't get an education, don't ever go to the hospital?
In a sense, our government in modern times has mostly worked on the premise, "we can live with a little inflation [2%], and besides it greases the wheels for all kinds of things". Prior to Greenscam when we got over-inflated, the Fed would "take away the punchbowl" by raising rates and restricting the flow of new credit temporarily while inflationary forces cooled. Nowadays... they just keep the pedal to the metal on the money-pump, then LIE about the inflation rate so they never have to back off. The money-pump has been running at 10-14% over the last 5 years, but they keep telling us "inflation is 2%, so don't worry about anything". WHAT? Do they think we're STUPID? Actually yes. They make it a point to remind us every day, and we keep behaving like we believe inflation is only 2% while assets inflate and prices sky all around us.
Well, if the market is beginning to worry about high oil, then ol' Uncle Ben is got himself in a fix! Cutting will help the market, but sky rocket oil. Staying as is will knock the market down. So what's a manipulator to do?
1. Choose the path of least resistance, knowing it "probably won't blow up on my watch". 2. Leave a bigger mess for someone else to pay for and hopefully take the blame for.
Ben must be itching to do a inner meeting cut right about now. I mean the stock market is just not allowed to correct.
You can bet he is just itching to do just that, freak soaring food and energy, his banker friends are hurting.