Posted on 06/24/2011 8:45:43 AM PDT by radioone
The Fed has just taken one small step to acknowledging reality... and Zero Hedge's keyword of 2011: stagflation. The FOMC released its revised 2011-2013 economic forecast, which saw GDP getting slashed, while hiking its inflation and unemployment projections. Specifically, 2011 GDP was lowered from 3.2% to 2.8% even as it raised its average unemployment forecast from 8.6% to 8.8%.
Next up: the stampeding herd of Wall Street lemmings follows suit. Below is the consensus 2011 GDP forecast from Wall Street "economists." I.e., from the people who are paid millions each year to maintain the status quo.
So much for QE2.
I don't think they worry too much about facts.
How’s that “HOPE and CHANGE” working out for ya, America?! =.=
The solution is obvious: print more paper money.
Yeah, manufactured lies.
They will keep the charade going until every last bit of THEIR assets are safe and sound. Then they will let loose the hounds.
We won't see any positive effects of QE until we hit QE9.
in before the 1st reference to this regime as the 2nd coming of Jimmuh Cahtah...
AVERAGE Unemployment @ 8%+??? That means it needs to get down to 6 and change and stay there for a while...
Ain’t.
Happenin’.
My wallet was telling me this morning that Obama Ebonomics Suck!
If it was measured in the same way as when Cahtah was POTUS it would now be 20%.
Well! How unexpected!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.