Bread is now $3.50 a loaf and gas is $3.50 per gallon. Ben Bernanke and Ms. Yellen must not be aware of the inflation that is making life very difficult for the middle class.
posted on 02/12/2013 8:22:56 AM PST
They’re keeping rates low because they know the targets are not really met. Rates are not going up for a long while.
posted on 02/12/2013 8:34:21 AM PST
by cuban leaf
(Were doomed! Details at eleven.)
I suspect the game is to set things up so the current smoke-and-mirrors economy stays afloat just until the end of the Ubama regime and then collapses under its own weight for the next one.
"Federal Reserve Vice Chairman Janet Yellen signaled stimulus may outlast the Feds bond purchases, saying the central bank has the option to hold interest rates near zero even after reaching near-term targets for inflation or unemployment. 'When one of these thresholds is crossed, action is possible but not assured,' she said in a speech to the AFL-CIO in Washington."
Ping. Thought that might be of interest if not a little surprising.
posted on 02/12/2013 10:03:52 AM PST
(We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
When times are tough, an individual or family taps their savings. Negative real interest rates tap the accumulated savings of the nation. We’re all one big family, whether we like it or not. /S
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