Skip to comments.Fed chief says inflation not a threat to U.S.
Posted on 02/09/2011 1:30:34 PM PST by Nachum
Washington - Is inflation a growing threat or isn't it? Federal Reserve Chairman Ben Bernanke thinks not, and he told a House Budget Committee meeting as much Wednesday even as lawmakers expressed worries about rising fuel and food prices in the United States and abroad. (Snip) Inflation is expected to persist below the levels that Federal Reserve policymakers have judged to be consistent with their mandate, Bernanke told lawmakers. In his first appearance before the House since Republicans
(Excerpt) Read more at msnbc.msn.com ...
We are so f****** screwed.....
The FBI fraud unit should have been there to arrest him and perp walk him out in cuffs after that statement of fraud.
I’m not the sharpest knife in the drawer, but even I know there’s an inflation problem lucking on the horizon. The time to start fixing it is now. The clowns in Washington need to get the message: STOP SPENDING, CUT TAXES.
I guess Bernake needs to ask his maid how much his groceries cost and his limo driver how much it cost for US to fill his tank?
Statements like this fuel inflationary expectations.
How stupid is Ben? Or, how stupid does he think we are?
Smart people are hedging like heck against inflation.
Wonder if he’s basing this on the index with or without food and energy included. Recently the news reports the latter index. Makes for a convenient manipulation of the statistics.
As a manufacturer I have just notified my customers that our prices have been adjusted to compensate for a very hefty price increase in some of our raw materials. Between freight and actual cost I have seen up to a 70% increase in some key ingredients of our products.
I wish that these “eggheads” who work for the ministry of propaganda would come to see me. Somehow, I am seeing massive inflation while they don’t.
Many companies are holding their prices to the retail market in order to “outlast” their competitors. We will soon see the real truth emerge as corporate bankruptcy accelerates through this year.
This means that inflation is about to hit hard. Better buy gold today.
That is because they are willingly destroying this economy. So no threat to them. It is a goal!
And oh, yes, health insurance: my annual premium went up 20% from last year. That's after a nearly 200% increase in electricity rates over the past 1 1/2 years.
“Irresponsible” came to mind.
Does the Fed Chairman know the impact of his words on ordinary citizens’ daily lives?
Or should I phrase it “Does he care?”
What a clearly measurable and comforting statement. /s
Yeah everyone is complaining about electric bills going up as well as, health insurance,car insurance, groceries,gas.
We pay farmers subsidiaries to NOT farm and cotton and sugar are up because India cut us off.
I’m not sure there’s enough money to go around to inflate their way out of this mess.
Nah, diesel is only up .50 cents a gallon in the past two months. It makes no difference that the majority of everything sold in this country travels to market via rail or truck or both, each of which runs on diesel. Those costs won’t be passed on to the consumer will they, Ben? It doesn’t matter that we’ve been using a large part of our food supply to make ethanol for gubmint fuel mandates, either. That hasn’t driven the cost of corn up by 50% in the last two years. Those costs aren’t being passed along, either, are they, Ben? It makes no difference that E-10 fuel, mandated by the Federal gubmint, on average causes you to get 18% lower fuel economy. That’s not contributing to people having to spend more of their income on fuel at all. Printing presses at Treasury running 24/7? Nah, no inflation pressure there, either, huh, Ben? Nah! There’s no inflation, is there, Ben? Nothing to see here, move along.....
“Fed chief says inflation not a threat to U.S.”
Speaking on behalf of all left wing millionaires, they are not concerned.
With over 600 TRILLION in derivative bad bets, they couldn’t print enough money. Hell, the world’s GDP is no where even close to that number. There is a day of reckoning coming and that right soon! ;-)
Oh, who has the ‘Baghdad Bob’ picture...this post SOOO needs it
The interest on the national debt is over $400 billion a year, with fed funds rate near zero. I dont’ know the actual figure, but I imagine if the national debt was pegged at the accurate inflation rate of 8%+, the annual interest would $800 billion plus. Countries would quickly realize they need to stop buying treasuries yesterday.
Mars Attacks comes to mind, when the martians are broadcasting messages, “Do not be afraid. We come in peace. We are your friends.”
So does this mean that it won’t all be Bush’s fault?
But gee, no inflation in my business. /S
Last week or so, one of our little band of merry miscreants here put it quite well:
We're in a game of musical chairs.
Let the music stop.
I make my own chairs.
You and I won't be screwed, but a few hundred million others are going to run out of McNuggets, and 911 is gonna be off the hook.
This is why they need to let the system fall apart and rebuild.
“The FBI fraud unit should have been there to arrest him and perp walk him out in cuffs after that statement of fraud.”
They OWN the FBI and they OWN us.
There is no threat of inflation you infidels!
And all your HumV are STILL belong to us.