We can all trust our governments, and we all know governments control prices

BUENOS AIRES, Argentina (AP) — Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.

Right, whew ... the government took action. I love how the government thinks it can control inflation by freezing prices.  It's as if their government is run by economic illiterates junior-high students.

The price freeze applies to every product in all of the nation's largest supermarkets — a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies' trade group, representing 70 percent of the Argentine market, reached the accord with Commerce Secretary Guillermo Moreno, the government's news agency Telam reported.

Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. 

Yes, those idiot-libs "worry about inflation."  They should keep voting for idiot-libs and just be patient on the inflation/economic disaster thing ... they aren't connected at all.

The government says it's trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent. More here:

LMAO, this reminds me of our own government.  

"Inflation?  What inflation?"

"We've added tons of new jobs ... economic growth out the ying yang."

And the sheep buy it, hook, line and sinker ... and they keep voting for idiot libs.  Same in Europe, btw.  And they don't put two and two together.  The "problem" is absolutely beyond them.

Here we go, folks

We've Never Been Here Before
[Peter Robinson]

If you'd like to know just how much Ben Bernanke has expanded the money supply during the last few months, just take a look at this chart on the website of the St. Louis Fed.

I'm not at all certain that there are any adjectives that do the event justice, but "astounding," "flabbergasting," and "utterly astonishing" come close.

Note, incidentally, the tiny little wiggle at the year 2000. That represents the Y2K monetary expansion, judged huge at the time. There are plenty of people who would argue that the Fed's efforts to shrink the money supply afterwards—that is, Greenspan's mopping up operation—burst the high-tech bubble, causing the last downturn. How will the Fed mop up after this expansion?

HT: Andy Kessler. It's impossible to run into Andy at Starbucks without learning something—often enough, something alarming.

From The Corner at NRO

Yeah, yeah, Klown, why do we care?

Below is an excerpt from here:

Why Is the Money Supply Important?

If the money supply continues to expand, prices begin to rise, especially if output growth reaches capacity limits. As the public begins to expect inflation, lenders insist on higher interest rates to offset an expected decline in purchasing power over the life of their loans.

Have you heard anything in the media about inflation concerns? Of course not. Later on, the libs and the media will all pretend they're very shocked. They'll say, "Well, if only so and so hadn't happened we wouldn't have all this inflation ... oh, the bad luck that is ours ... nobody could have seen this coming ... the only answer is MORE GOVERNMENT INTERVENTION and to vote for more Democrats"

I took the excerpt below from here. A nice synopsis. Not too complicated but still covers the essentials. I edited it just a small bit.

Why do we have to manage the money supply?

Lets assume the money supply is held constant. Economic output is constantly expanding, (efficiencies/more people are born and doing more work) so if money supply is held constant, this means that prices have to go down (deflation). Less money available for everyone means the value of your money goes up. Deflation shuts an economy down as investment drys up because just holding onto your money will increase its value by not doing anything. And if you borrow money to invest, you owe more as time goes on (since money is increasing in value.) So deflation is to be avoided. In order to avoid this, the money supply must grow at the same rate as economic output. If velocity is constant, and growth in output = the growth in supply then prices will stay constant.

The opposite happens when the money supply grows too quickly. It causes inflation as there are now more dollars per unit of real resources. However, a little bit of inflation is considered to be better then a little bit of deflation, so central banks generally err on the side of inflation (and for right or wrong, there is a temptation for idiots/politicians wanting to get elected to inflate the money supply to temporarily boost the economy at the expense of long term inflation)

In simpler terms, if the money supply does not grow, but output does, then there will be fewer dollars per unit of real economic resources, and the value of each dollar then becomes worth more. The result is, that prices go down, requiring less dollars. But even though this might sound good, as explained this shuts an economy down because investment dries up.

Inflation? What inflation?

Billionaire Donald Trump says the U.S. economy is poised for “massive inflation” and is warning investors to take steps now to protect themselves.

In the gripping CNBC interview, Trump also told investors they should not trust official government statistics.

He even questioned the “official unemployment” numbers. “It’s over 20 percent. It’s not 8.3 percent,” Trump said. 

No kidding ... but keep listening to the media parrot the government's party line.  This way they can steal more of your money and liberty before you wake the hell up.

Have you noticed the prices of things going up fast?  I have.  Does the government acknowledge it?  Have you heard inflation is bad?   Or have you heard "inflation isn't a problem right now?"  Right, that's what I thought.

Trump also thinks skyrocketing oil prices will cripple the U.S. economy. “Right now, [oil] is at an all-time record for this time of the year, in the summer they predict $5 gasoline, maybe $6.”

Very true but it seems the consequences of these facts aren't really apparent to most folks.  The part I like best is, no matter how bad things get, many people do not realize the cause is government strangling the hell out of the economy.

But Trump isn’t the only expert warning the U.S. economy may go off the cliff. Robert Wiedemer, author of the New York Times best-selling book Aftershock, stated in a recent interview, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.” More with video  here:

Tsk, we're going to have to steal your money, sorry about that

The Federal Reserve Open Market Committee (FOMC) has made it official:  After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years.  The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level.

But, an increase of 2% a year over a period of 20 years will lead to a 50% increase in the price level.  It will take 150 (2032) dollars to purchase the same basket of goods 100 (2012) dollars can buy today.  What will be called the “dollar” in 2032 will be worth one-third less (100/150) than what we call a dollar today.

The Fed’s zero interest rate policy accentuates the negative consequences of this steady erosion in the dollar’s buying power by imposing a negative return on short-term bonds and bank deposits.  In effect, the Fed has announced a course of action that will steal — there is no better word for it — nearly 10 percent of the value of American’s hard earned savings over the next 4 years.

Why target an annual 2 percent decline in the dollar’s value instead of price stability?  Here is the Fed’s answer:

“The Federal Open Market Committee (FOMC) judges that inflation at the rate of 2 percent (as measured by the annual change in the price index for personal consumption expenditures, or PCE) is most consistent over the longer run with the Federal Reserve’s mandate for price stability and maximum employment. Over time, a higher inflation rate would reduce the public’s ability to make accurate longer-term economic and financial decisions. On the other hand, a lower inflation rate would be associated with an elevated probability of falling into deflation, which means prices and perhaps wages, on average, are falling–a phenomenon associated with very weak economic conditions. Having at least a small level of inflation makes it less likely that the economy will experience harmful deflation if economic conditions weaken. The FOMC implements monetary policy to help maintain an inflation rate of 2 percent over the medium term.”

In other words, a gradual destruction of the dollar’s value is the best the FOMC can do.

 More here:

In "other" other words, the government has ruined the value of our currency by printing up trillions of dollars out of thin air (but nobody could have predicted this) ... and instead of  facing up to the consequences of it now, they prefer to stretch the crushing over 20 years (or more) ... you know ... so the idiot frog doesn't notice the water heating up.

LMAO, they're stealing your (and your children's) money and freedom and what do you do?  Why, you vote "Democratic" of course.  After all, "Democratic" is good ... right?  Yes, they're for the little guy.

Relax -- there is no inflation

Excerpts from here:

A good friend of mine, who has family living abroad, called me this weekend. One of the first things out of his mouth was about his sister in London and how she was dealing with “terrible inflation.” No doubt he was talking about the spike in gasoline prices that have risen to more than $8 a gallon. (The official inflation rate in the UK is around 3.6%, but I’m sure the numbers over there are as reliable as the inflation numbers in the U.S. where fuel and food are not counted in the so-called “core” inflation.)

What?  The price of food and gas isn't counted?  LMAO! Of course not, after all, they don't affect the economy in any way, do they?

Part of this price spike is due to Iran cutting off crude oil shipments to the EU recently, but part of it is the fact the UK has been engaging in quantitative easing (QE), or money printing, to help its ailing economy and insolvent banks. Just in the last few weeks, it announced another $50 billion in QE. The UK is not alone as most Western countries are engaging in QE to prop up an insolvent system bloated on bad debt.

According to millionaire investor Jim Rogers, the Fed has already started its third round of QE. In an interview on Reuters, last week, Rogers said, “We already have QE3 … Get out the Federal Reserve’s balance sheet. You’ll see that they’ve been pumping up – you can see unadjusted M2 is going through the roof. Look at their balance sheet. … All sorts of assets are suddenly appearing on their balance sheet. Where did they come from? They didn’t come from the Tooth Fairy; they came because they’re in there buying in the market as fast as they can. There IS QE3 already. They don’t call it that but it’s there.”

Idiot libs about to be taken by surprise - again

Forget the modest 3.1 percent rise in the Consumer Price Index, the government's widely used measure of inflation. Everyday prices are up some 8 percent over the past year, according to the American Institute for Economic Research.

The not-for-profit research group measures inflation without looking at the big, one-time purchases that can skew the numbers. That means they don't look at the price of houses, furniture, appliances, cars, or computers. Instead, AIER focuses on Americans' typical daily purchases, such as food, gasoline, child care, prescription drugs, phone and television service, and other household products. 

The group maintains that this index better measures the real-world impact of price changes, particularly for people on a budget. And, largely as the result of the recent run-up in gas prices, this "everyday price index" (EPI) suggests that Americans are being pinched far more tightly than the official inflation measure would have you believe. More here:

Oh really?  What next?  We find out that unemployment is closer to 20%?  Well we'll all be shocked, won't we.  What we need is the government geniuses idiot-libs solving more of our problems for us ... they're doing just great so far.

Anyway, it's not really fair to blame them totally for this inflation ... after all, all the geniuses said there was nothing to fear.  If only ... IF ONLY there were some clairvoyant, all-knowing, all seeing being out there who could have warned us.  OH, WOE IS US!!!!

Hmmm, turns out there's more than one great genius in the world.

The developed economies of the world have opened the money spigots, hardly the policy response one would expect if there were truly signs of an economic recovery underway.

The massive money and credit creation is sitting in the banking system like dry tinder just waiting for a spark to set it ablaze. How quickly it happens is anyone’s guess, but once it does we are likely to be enveloped in a worldwide inflation unlike anything before ever witnessed. More here:

Once again, this is the "thing" with idiot-libs.  They force you to go along with their "policies."  And then you have to pay the consequences when they inevitably and spectacularly fail.  And then the libs refuse to accept responsibility ... claiming there is no "linkage."

And this is the crux of the biscuit ... why do they have to claim "no linkage?"  Think about it.  First of all, if they weren't FORCING you to comply with their ideas, they would have no reason to claim "no linkage" because it wouldn't matter, would it?  No, it wouldn't ... there would be no argument in the first place.

But what's the bottom line?  the bottom line is they MUST include you in their plans and policies .. they refuse to leave you alone ... and you're supposed to keep quiet about it.  If you object to them forcing you to go along with their idiocy then they label you a stupid, greedy, racist and the media goes right along with them.

That's right ... if you want to be left alone, you are a stupid, greedy, racist. If you want to force others to conform to your will then you are a selfless, compassionate genius, worthy of respect and praise.

Why can't the great genius libs ever do anything on their own?  Why can't they ever point to their success and say "see, do it our way ... it's your choice but you can see the results of our way?"

No, they never do that, do they?  Instead they force you ... they steal your money and liberty under the guise of "saving the planet" or something ... but it's always a good reason, isn't it ... supported by all the "scientists."  Yes, their reason for stealing your freedom is always very "science-tific."

Jim Demint - tells it like it is

Jim DeMint - Republican Senator from SC

Bold/red is mine.

DeMint blamed the unions for pushing this issue as far as it has gotten. The senator said the notion that reorganization under bankruptcy would not work was generated by the unions for fear of losing their power.

“The primary driver behind this is the unions, because bankruptcy allows the auto companies to basically restructure all their contracts in a way that a bankruptcy judge says will make them sustainable,” DeMint said. “And if they do that, then essentially the unions lose all their leverage. It’s the unions that have brought them to the brink. So definitely, I think the reason they want a political solution and a car czar is because a car czar can protect the unions through this whole process at the expense of the taxpayer.”

The result of the bailout culture that now exists on Capitol Hill will be incredibly high rates of inflation down the road as the economy picks back up and prices reflect the amount of new money circulating through the economy.

“There is no question this will result in inflation,” DeMint said. “The amount of money we’ve borrowed, the amount of money we’ve printed has put us in a more dangerous situation than we’ve ever been in as a country. We may not see the inflation as long as the economy is slow. But, I’ve talked to some economic experts and once the economy starts picking up with so much money in the money supply and so much debt, we’re likely to see very high interest rates and very high inflation rates.” The Klown says "DUH!!"

Excerpts: the rest here:

We gotta get us some of that sweet, sweet, socialism

Venezuela inflation graph since Chavez came to power -  from here

CARACAS, Venezuela (AP) - Venezuela's annual inflation rate has surpassed 30 percent after consumer prices surged in April.  Oh really?  Who could have seen this coming?  Yes, this comes as quite a shock to us all.

The Central Bank and National Statistics Institute on Friday reported a 5.2 percent increase in consumer prices during April, driving up the annual rate to 30.4 percent.

President Hugo Chavez's government has been struggling against the highest inflation rate in Latin America and a weakening economy in general.  Seriously?  This is the first I've heard of it.  The media doesn't think it's so bad ... they NEVER mention it.

Prices increased 11.3 percent from January to April, up from 6.7 percent inflation in the same 2009 period.

Venezuela's economy shrank by 3.3 percent last year amid a downturn in its all-important oil industry. It's the nation's first recession since 2003.  A downturn in the oil industry?  Didn't Obama just give them a few billion so they could drill offshore or something?  I guess it doesn't take these communists socialists very long to go through a few billion. (Or, as Ann Coulter calls it "million, with a B.")

The country imports most of its food, and Chavez on Friday announced the government will create an import-export corporation aiming to break with the private sector's "hegemony." It wasn't immediately clear how the new state entity would operate.  LMAO.  OF COURSE his answer is ... MORE GOVERNMENT.

Have you ever noticed ... that's ALWAYS the solution of the communist socialist.  The government is tormenting them (for their own good, of course) beyond belief ... causing them untold hardship ... and what's the solution?  BIGGER GOVERNMENT - SPEND MORE MONEY - TAKE MORE FREEDOM - KILL THE PRIVATE SECTOR!!

Chavez said wealthy Venezuelans involved in the import business "buy abroad, come here and ask for more than it really costs." Article from here:

Yep ... it's those evil wealthy people that are causing all this trouble.  Ahhhh, now we understand.  How are we going to get even with those evil wealthy?  Jail them ... JAIL THEM!!

Geniuses taken by complete surprise on economy

The US Federal Reserve gave a downbeat assessment of the world’s largest economy on Wednesday as it pointed to slower than expected growth and higher inflation.

In the most significant change to its policy statement, it stripped out all reference to “subdued” measures of underlying inflation and said that the economy is growing “somewhat more slowly than the Committee had expected”. (Yes ... unexpected, it's a real stumper.)

The toxic combination of disappointing growth but higher inflation combined to leave no hint that the central bank will consider further asset purchases to stimulate the economy. More here:

Oh woe is us.  No wonder they were taken by surprise ... I mean, what great genius could have predicted this?

Think the recession is bad so far? Can you hear the ticking sound?

This guy is afraid the ceiling is going to cave in any minute. 

(CNSNews.com) – So far, during the presidency of Barack Obama, the price of a gallon of gasoline has jumped 83 percent, according to data from the Bureau of Labor Statistics.

During the same period, the price of ground beef has gone up 24 percent and price of bacon has gone up 22 percent.

When Obama entered the White House in January 2009, the city average price for one gallon of regular unleaded gasoline was $1.79, according to the BLS.  More here:

What's this?  Inflation?  SOOoooo unfair because "who could have seen this coming?"  I mean, just because we print more money and expand the money supply that doesn't mean we'll have inflation, right?

Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply. (from Wikipedia)

I see ... so "economists" could have seen it coming but the rest of us were blindsided, right?  I think I'm an economist though because I recall hearing this about five minutes after I registered for Econ 101.  Perhaps they don't cover this in "Community Agitation 101."

Hey, maybe Obama and the Democratics should block more drilling and pipelines. That will probably help employment and reduce the price of gas.

Communism finally given chance to work

From GOC - Very well said

I AM BRINGING THIS TO THE TOP SINCE I UPDATED IT WITH A MARK LEVIN VIDEO.

Friends of Democrats and Hollywood - Hugo Chavez & Fidel Castro

Another Triumph For Socialism
So as Hugo Chavez is rewriting the Venezuela constitution to abolish term limits and make himself president for life, let's look at his success so far with the Venezuelan economy.

The Venezuelan economy, under the direction of President Hugo Chávez, is starting to unravel in the currency market.

But how can that be? Hugo was gonna create a socialist utopia in Venezuela just like his buddy Castro has done in Cuba. And the commies did in the USSR and the Warsaw Pact nations. Or like Mugabe is doing in Zimbabwe. Socialist utopias, all of them.

While Venezuela earns record proceeds from oil exports, consumers face shortages of meat, flour and cooking oil. Annual inflation has risen to 16 percent, the highest in Latin America, as Chávez tripled government spending in four years.

All those oil exports and Hugo is having trouble? Shortages in a socialist economy? I'm shocked! High inflation? I'm shocked again! After all, look how Mugabe has inflation under control in Zimbabwe.

Exxon Mobil and ConocoPhillips are pulling out after Chávez demanded that they cede control of joint venture projects.

They do all the work and after they're done, Hugo kicks them out. Why waste money in Venezuela.

The bolivar has tumbled 30 percent this year to 4,850 per dollar on the black market, the only place it trades freely because of government controls on foreign exchange. That compares with the official rate of 2,150 per dollar set in 2005. Chávez may have to devalue the bolivar to reduce the gap and increase oil proceeds, which make up half the government's revenue.

Ah yes, "government controls on foreign exchange". That always works and is a good way to stabilize your currency.

"This has been the worst-managed oil boom in Venezuela's history," said Ricardo Hausmann, a former government planning minister who now teaches economics at Harvard University. "A devaluation is a foregone conclusion. The only question is when."

That's because the oil boom is being managed by a socialist. Yannow, one of those people who can look at how socialism has failed everywhere it has been tried, but he thinks it has failed because (here comes the old commie claim) the right people haven't been in charge and there wasn't enough money to make it work. (That always cracks me up)

Chávez, an ally of President Fidel Castro of Cuba, weakened the currency 11 percent in 2005. Chávez imposed restrictions on foreign exchange in 2003 to halt the capital flight that has driven down the bolivar more than 70 percent since he took office in 1999.

Capital flight, huh? That usually happens when the gummint starts seizing nationalizing businesses.

A devaluation would give the government more bolivars from its oil export tax receipts, helping fund Chávez's policies to provide free health care, housing and discounted food to millions of Venezuelans. The government says social programs helped cut the poverty rate to 34 percent in the first half of 2006 from 49 percent eight years earlier.

It all depends on how you define poverty. The nice thing about socialists is how much they loooove the poor. They love them so much that they create more of them.

More here:

Klown note: When he says "socialist/communist" -- you think "Democrat" -- cuz they are the same gd thing. Maybe that genius Sean Penn should go down there and give him some advice on his currency -- you know -- cuz commies seem to "know so much that isn't so" (quote from Ronald Reagan) when it comes to managing economies.

09-09-07 - UPDATE -- Look what I found on YouTube -- about 3.5 minutes. Mark Levin on the same subject ... Dictators and Anti-American Americans.

Man after Obama's heart

Venezuelan President Hugo Chavez has said he seized the landmark Hilton hotel on Margarita Island because its owners dared to impose conditions on its use by his government to host a summit there last month.

"To hold the conference we had to ask for permission... and the owners tried to impose conditions on the revolutionary government. No way," said Chavez.

"So I said, 'Let's expropriate it.' And now it's been expropriated."

The acquisition by force of the real estate, furnishings, and related assets... of the Margarita Hilton & Suites Hotel Complex, along with the Marina owned by Inversiones Pueblamar y Desarrollos MBK, have been ordered," read a presidential decree in the official register.

In the past four years, Venezuela has implemented the nationalization of what is sees as strategic industries, including electric utilities, cement, steel, oil services and banking. More here:

Yes ... anyone else want to invest money in Venezuela? I wonder how he's doing with the economy.

CARACAS, Venezuela (Reuters) -- Venezuela's consumer prices rose 2.5 percent in September, the highest monthly level this year, underlining the challenge President Hugo Chavez faces in taming one of the world's highest inflation rates.

With August inflation at 2.2 percent, September's was the third successive monthly rate over 2.0 percent, led by food and education costs. The OPEC member is forecasting 26 percent inflation for 2009, below last year's level of 31 percent. More here:

D'OH - who could have predicted that? I mean, everybody thinks he's doing everything perfectly ... you know ... unless you ask a historian or an economist.

Hey, Venezuela ... don't worry ... he only wants to be Dictator President for life. How long can that be? ... another 40 years, tops.

This is what I love about lefties ... they don't mind throwing your entire life away while they make another failed attempt to bring about Utopia. Hey, majority rules, right? Don't worry about your "inalienable, God-given" rights/liberties ... nobody can take them away ... except a mob ... that's what the founding fathers had in mind.

After all, it's their dream and all they need is all of your money and liberty a "little bit more" of your liberty and money to make it happen.

Keep electing the jackass, idiots

Venezuela's public finances are unravelling, with oil prices at $40 a barrel, while the national budget is calculated at $60 a barrel. Inflation is running at over 30 per cent, yet with the new measures Mr Chavez is seeking to ensure that his core support, the poor, can still fill their shopping baskets with food. 30% inflation? If only there were SOME WAY to predict this ... some economic theory ... some historical evidence ... but there's nothing ... no way to have seen it coming ... WOE IS US!

"If any industry wants to ride roughshod over the consumers, with a view to getting better dividends, we are going to act," said Carlos Osorio, the national superintendent of silos and storage. "For the government, access to food is a matter of national security."

Production quotas and prices have now been set for cooking oil, white rice, sugar, coffee, flour, margarine, pasta, cheeses and tomato sauce. More here:

------------------------

CARACAS, March 4 (Reuters) - President Hugo Chavez seized a unit of American food giant Cargill on Wednesday and threatened to take over Venezuela's largest private company, renewing a nationalization drive as the OPEC nation's oil income plunges.

Chavez's clash with the food companies, demanding they produce cheaper rice, came less than three weeks after he won a referendum on allowing him to run for reelection and marked his first nationalization in seven months.

"I warn you this revolution means business," said Chavez, whose government has struggled with lower oil income and minor food shortages this year. Yeah, yeah, Chavez ... just keep nationalizing business ... looks like it's working out very well so far ... 30% inflation ... cough. Coming soon to America too ... YAY!!

The anti-U.S. president, who has nationalized swaths of the economy, is popular among the poor for pressuring companies to produce cheap goods and for government programs that provide subsidized food in city slums. More here:

Yes, popular with the poor. Popular with the people who don't understand that they'll be MUCH worse off in the long run. Perhaps after they're finished voting themselves into complete and abject poverty, they'll learn a valuable lesson that they might care to pass along to their children.

Did you know that stamps went up today? Yes, to 45 cents.

I'm guessing you didn't even know stamps went up today ... because, after all, who cares, right?  The media knows you don't care so they aren't about to waste your time bringing this piddly item to your attention.

Why is it that all I hear about the post office is how it's going broke and how it needs to cut services and Saturday delivery and on and on and on? I wondered how they are doing with their prices? Are they keeping up with inflation? So I went and did some research for you - no need to thank me.

But Klown, they have to deal with terrorism!!!

Terrorism? Do we stall have a danger of that? I thought the whole world would love us again IF ONLY WE ELECTED THE GREAT OBAMA? I thought "this was the moment when we began to provide care for the sick and good jobs to the jobless; this was the moment when the rise of the oceans began to slow and our planet began to heal; this was the moment when we ended a war and secured our nation and restored our image as the last, best hope on earth."

Ha ha ha, hoo boy.

So, in 1952 a stamp was 3 cents.  Today it's 45 cents.  Draw your own conclusions.

I'm not sure about that "Annual rate of inflation change" thing. Doesn't look right to me somehow.

"A gold standard wouldn't solve any problems ..."

(Reuters) - Federal Reserve Chairman Ben Bernanke on Tuesday took aim at proponents of the gold standard, saying that such a system handicaps the government's ability to address economic conditions.

Yes, exactly ... that's one thing it does for sure ... it keeps you gd idiots from screwing around so much with the economy and inflation.  THAT'S RIGHT, I SAID "IDIOTS."

Bernanke spoke in the first of a series of four public lectures at George Washington University that is the central bank's latest effort to counter a raft of negative public sentiment that has arisen from its handling of the financial crisis. The former Princeton economics professor delivers a second lecture on Thursday and two more next week.

Princeton economics professor ... oh really?  Well, he's much smarter that the framers of our constitution because those morons actually had the audacity to write in the constitution that “[No State shall] make any Thing but gold and silver Coin a Tender in Payment of Debts;“ ...

Now why would they feel compelled to do that, heh?  I'll tell you why, because they knew there would be morons like this from their time until Christ comes back ... that's why they wrote that ... to prevent you and morons like you from making mischief in the money supply.

Notice they didn't actually prohibit paper money ... their intent was to prohibit the government from making "money" that was not backed by precious metals ... i.e. fake/fiat money.

Some Fed critics argue that the central bank's ultra-easy monetary stance - it has held overnight interest rates near zero since late-2008 and has bought $2.3 trillion in bonds - is paving the way for future inflation.

Oh really?  "Some" argue this?  Only "some?"  

How long do "others" say we can keep buying our own debt like this?  Forever?  Because when they have to finally stop, it's going to hurt ... bad.

"Since the gold standard determines the money supply, there is not much scope for the central bank to use monetary policy to stabilize the economy," Bernanke said. "Under a gold standard, typically the money supply goes up and interest rates go down in a period of strong economic activity - so that's the reverse of what a central bank would normally do today."

Yes, the reverse.  Sounds very familiar.  You libs are always telling us the "reverse" of the truth.

"The gold standard wouldn't help."

"Drilling for more oil wouldn't help."

It's a good thing we have our intellectual betters telling us what to think ... otherwise we would be so easily fooled.

Huh? Fuel shortage in Iran ??

From Drudge:

At least 12 petrol stations have been torched in the Iranian capital, Tehran, after the government announced fuel rationing for private vehicles.

Iranians were given only two hours' notice of the move that limits private drivers to 33 gallons of fuel a month. Despite its huge energy reserves, Iran lacks refining capacity and it imports about 40% of its petrol.

The country has a large budget deficit largely caused by fuel subsidies and the inflation rate is estimated at 20-30%.
More here:
---------------
Inflation at 20-30%? -- HOLY McSHIT. That kind of thing gets politicians booted out of office --- you know -- in a real democracy.

And LMAO @ no refining capacity -- and they don't even have liberal morons stopping them from building refineries -- you know -- like we have in the U.S.

Hugo Chavez advice - Vote Democrat

LISBON, Sept 27 - Venezuela's leftist President Hugo Chavez said on Saturday it was the capitalist system that had caused the financial crisis in the United States and the country should come up with a new constitution.

"It was capitalism that caused the ruin" in the United States, said Chavez, who is one of Washington's fiercest critics, calling the financial crunch "the worst financial crisis in history".

Oh yes, capitalism caused it ... if by capitalism, you mean government-run businesses (GSE'S.) Jackass. I guess we should be more like Venzuela.

Sept. 9 (Bloomberg) -- Venezuela's annual inflation rate accelerated for the eleventh consecutive month, driven by rising food costs, even after the government took steps to drain liquidity and curb price gains in the oil exporting economy.

Consumer prices measured by the central bank's benchmark Caracas index climbed 34.5 percent in August from a year earlier, the fastest pace in more than five years.

Food prices continued to drive inflation in August, rising 51 percent from a year ago, the central bank said. Earlier this year, Venezuela suffered from widespread shortages of basic staples like milk and beans. Excerpts - more here:

Mmmmmm - communism is so much better.

Genius makes ass of self - again

Iranian President Mahmoud Ahmadinejad lashed out on Monday at capitalism as a "false" economic system and called for the creation of a new global financial order.

"I want to say that capitalist economics is false economics. Now they are trying to reform the system, the very system that caused the crisis," Ahmadinejad told reporters during a visit to Kazakhstan.

Hey, Imadinnerjacket, you wouldn't know an economic system if it wrapped both lips around your dick. Just pipe down, jackass. Worry about the sand and oil over there. As soon as we start drilling in America, your oil won't be worth shit. We'll tell you to cram it and you can go back to building Mosques out of sand.

Hey, here's something for you to worry about. Sounds like your socialist/communist system is so much better. You and Chavez - such geniuses.

The central bank of Iran reported that the inflation rate in urban areas for August has reached 27.6%. The reformist internet daily Rooz said that inflation has tripled during the president of Ahmadinejad. Urban areas represent 70% of Iranian population.

Big shocker to all - Klown Predictions

Click image to biggify

WASHINGTON – The Federal Reserve expects the economy this year will sink at a slower pace than it previously thought, but that unemployment will top 10 percent, according to a forecast released Wednesday. More here:

Yes, I know what to do.

1 - Let's raise the minimum wage ... oh, wait we did that last year ... no way to know that was going to have an effect on unemployment rates ... took us by complete surprise.


2 - Let's block oil drilling and refining and transporting ... oh, wait. we've been doing that for 30 years ... no way to tell that was going to cause dislocations in the market and skyrocketing/unpredictable prices. No way to predict that skyrocketing energy prices would cause an almost complete collapse in the economy.


3 - Let's have government-run enterprises like Fannie Mae and Freddie Mac run the housing/loan industry by fiat. Yes ... we'll have them dictate terms to the free market. No way that will cause dislocations in the market and crush the economy.


4 - Let's "tax the rich" to pay for health care. No way will "the rich" pass along their increased costs to the poor ... no way in hell ... it just wouldn't be right.


5 - Let's try to tax and spend our way out of a recession. Just because it can never work doesn't mean we shouldn't try it. No way can we make it worse. No way will it cause inflation. No way will we bankrupt the nation. No way will we ever have to pay it back. No way will it make the recession worse.


Hey, the Klown has some predictions:

1 - Unemployment will top 15% before these idiots are finished.

2 - Gas will top $6 per gallon before they "drill here/drill now." And it will go over $7 per gallon before they stop letting "environmentalists" sue energy companies over every little thing.

3 - Inflation will top 10% before these idiots are finished.

Tell me again, why do I vote for Republicans?

See, I vote for Republicans because I believe people should be free.

The bigger the federal government gets the more laws it writes, and the more money it needs..  The more money it steals from people, the less free they are ... period ... ask a slave.

I am not interested in giving up my freedom for the "greater good" or for any reason whatsoever.  I believe the "greater good" is maximized when everyone has the most individual freedom possible.

Of course, if you disagree with me there is nothing stopping a free person from going to live in a commune and give up as much of THEIR freedom as you like.  The "Democratics" don't look at it that way ... they think the road to their Utopia is paved with the freedom of EVERYONE.

So now the Republicans have, once again, voted to make the government bigger and to steal more money from the people.  Unlike their usual tactic which is to allow the printing of more money (which steals your money thru the devaluation of the currency) or to raise the debt ceiling and borrow more money (which you have to pay back ... so it's the same as taxing you.)

Many people do not realize that inflation is with us, and it is an extremely destructive hidden tax, especially on the poor of all nations of the world.  Inflation reduces the buying power of your money, so you become poorer, even if you have the same amount of money in the bank or in your pocket. More here:

So what about this recent vote to avert "The Fiscal Cliff?"  Ohhhhh, sounds very important, right?

Let's see, what's in Santa's bag, shall we?

$41 in tax increases for every $1 in spending cuts. More:
77% of ALL households will pay more to the federal government. More:
40 million for NASCAR. More:
Big tax deductions for Hollywood. More:
Millions for rum producers: More:
Millions for algae growers: More:
On and on and on:

The powerful give money to their buddies and the sheep bleat as usual.

And the Republicans refuse to stand up to this crap because the media will make them look bad and they might lost some of the power they have.

It occurs to me that a vote for a Republican is just a vote to delay the inevitable "paying of the piper."  Perhaps it would be best to vote for the Democratics and get the country ruined as quickly as possible.  That way we can get the bankruptcy over with and sort things out from there.