Ben Bernanke to Make History Tomorrow With ‘Fedapalooza’ Spectacle
- Posted on April 26, 2011 at 9:05pm by
Emily Esfahani Smith
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WASHINGTON (AP/THE BLAZE) — When Ben Bernanke makes history Wednesday as the first Federal Reserve chief to begin a series of regular news conferences, his tasks will be simple. That doesn‘t mean they’ll be easy:
Make no unintended news. Defuse critics of Fed policymaking. Say nothing that might spook investors.
“If he succeeds, he will not make any impact whatsoever” on bonds, stocks or the dollar, says Timothy Duy, an economist at the University of Oregon who writes a blog on the Fed.
Business Insider has its own very prediction, as well, which is worth reading.
The historic news conference, the first of three this year, is part of a long-standing Bernanke campaign to make the central bank more transparent and publicly accessible. His efforts have included town-hall meetings and appearances on “60 Minutes.” The chairman’s public appearances have followed criticism that the Fed, an independent government agency, was for too long secretive and unaccountable.
After giving an opening statement, Bernanke is scheduled to take reporters’ questions for 45 minutes. He’ll do so less than two hours after the Fed issues a statement outlining its latest policies on interest rates and the economy. The Fed is expected to say that its benchmark rate will remain near zero and that its $600 billion Treasury bond-buying program will end in June as planned.
By helping to keep downward pressure on interest rates, the bond-buying program was intended to encourage spending and boost growth. But critics say all that spending has raised the risk of high inflation.
Under Bernanke, the Fed‘s policies have run into criticism from some of the Fed’s own regional bank presidents. They say the central bank should stop trying to stimulate growth and start fighting inflation by raising interest rates from super-low levels before the year ends. They point to the run-up in gasoline and food prices. Higher interest rates could slow spending and make inflation less likely.
Bernanke and a majority of Fed officials counter that those higher prices are temporary and, apart from energy and food, won’t lead to substantially higher prices overall. The news conference “gives Bernanke a nice opportunity to present the Fed’s case frankly in his own words without a lot of spin,” says Alan Blinder, a Princeton University economist and a former Fed vice chairman.
At the same time, Bernanke must take care not to let unguarded comment unnerve financial markets.
“The press conference is not supposed to add volatility or uncertainty,” says Marc Chandler, head of global currency strategy at Brown Brothers Harriman.
On the other hand, Bernanke will likely try to steer clear of the jargon and bland generalities with which his predecessors once shrouded Fed policy.
“He would not like it if the post-mortems said all he did was blow smoke and speak gobbledygook,” Blinder says.
Bernanke has shown he can field questions deftly in public settings. A former longtime economics professor at Princeton, he is fond of deconstructing complex subjects. He also has plenty of experience handling hostile queries from critics in Congress and on “60 Minutes.”
To prepare for his news conference, Bernanke has watched tapes of how his counterparts in Europe – Jean-Claude Trichet, president of the European Central Bank and Mervyn King, head of the Bank of England – have performed at news conferences. Two months ago at a meeting of finance officials in Paris, Bernanke pulled aside Trichet and King to quiz them on how they manage their encounters with reporters.
Despite Bernanke’s experience and preparation, answering questions live in public isn’t without risk. Financial markets can misinterpret or overreact to a stray comment.
“Markets are panic-prone,” Blinder says. “They’re ready to panic at the slightest provocation.”
Bernanke has stumbled in the spotlight before.
Just months into his new job as Fed chairman in 2006, he rattled Wall Street because investors thought he sent them contradictory signals about interest rates. Bernanke complained to CNBC’s Maria Bartiromo at a Washington dinner that investors had misinterpreted recent remarks he made before Congress as a signal that the Fed was preparing to end a two-year effort to tighten credit.
CNBC reported Bernanke’s conversation, and stocks slumped in response. Weeks later, Bernanke told members of Congress that he’d suffered a “lapse of judgment” by speaking to the CNBC anchor.
In theory, the Bernanke news conferences – four will be scheduled each year – give him a chance to better control the Fed’s message. He can make himself heard above some of the Fed’s outspoken inflation hawks.
At the same time, any war of words with dissenters could escalate and create public confusion about Fed policy.
“Lack of a consistent message is a problem,” said Ken Thomas, a lecturer in finance at the University of Pennsylvania’s Wharton School. “That is a big fear.”
Joseph Gagnon, a former Fed official who is now senior fellow at the Peterson Institute of International Economics, says he thinks the anti-inflation dissenters at the Fed are drawing too much publicity. They lack the votes to make a difference inside the Fed. Bernanke’s easy-money policies have been approved unanimously this year by the Fed’s policymaking committee.
By talking to the media, Bernanke can “get out there before other guys start to spin it their way,” Gagnon says. “Why should they get all the attention?”
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Comments (166)
AmericanStrega
Posted on April 26, 2011 at 9:56pmMODEL82A1
Posted on April 26, 2011 at 9:26pm
CHEEZ, one thing I Absolutely Guarantee: Ben WILL NOT refer to Glenn Beck, directly or indirectly, for any purpose whatsoever. Sorry to burst your bubble
Dear MODEL82A1,
SHUT UP!
Report Post »MODEL82A1
Posted on April 26, 2011 at 10:11pmDear AMER. No.
Report Post »WatchingThePuppetShow
Posted on April 26, 2011 at 11:05pmSorry but Model82a1′s points are very solid and valid.
Report Post »mrsmileyface
Posted on April 27, 2011 at 12:53amPaging George Orwell! I need someone to decipher the Feds “New Speak” so I can understand how screwed were all going to be.
Report Post »D0ntTread0nMe
Posted on April 26, 2011 at 9:54pmOh I‘m sure this couldn’t possibly end badly at all… we are scroomed my freinds…scroomed. I am no expert but I bet you will see a drimatic drop in the markets during the press conference… But hey at least we can finally ask a few questions they will never answer.
Report Post »http://www.mythoughtsfromthemiddle.blogspot.com
spreadcommonsensenot pc
Posted on April 26, 2011 at 9:49pmThe fed came into being thru deception, and they spill NOTHING BUT DECEPTION.
Report Post »Henry Ford stated—“If the common man knew how the present econ system was ran there would be a rebellion”(para)
US common folk has been played……………..
Randyrocker
Posted on April 26, 2011 at 9:48pmAs a private company separate from the government, the FED should be taken to task for not paying any taxes to the United States of America for the past 99 years of their existence. They should be fined their entire gold holdings. TAX the FED!
Report Post »AngelThree
Posted on April 26, 2011 at 10:50pmTax them WITH Interest…. And YES…. Only Precious Metals will be accepted….
Report Post »RightPolitically
Posted on April 26, 2011 at 9:46pmSpin!
Report Post »Conkuur
Posted on April 26, 2011 at 9:45pmBen: WE ARE ALL GOING TO DIEEEEEEEEEEE!!!!!!! Sike! everything’s cool! We just need you to raise the debt ceiling…..gobble dee ****…de gobbly do dum dum dee……Money….wakka lukka spoolio….monetizing more……ballyyoo..bizz bang….New World currency…..dollahh dollaahh doo bop….Thank you
Report Post »hechafteth
Posted on April 26, 2011 at 9:44pmMr. Bernake is our (the United States) representative to the major global banks under the auspice of a fourth branch of government; Financial. This is a position held in the Treasury Dept. and pays less than 200K annually, unlike his colleagues in the actual banking industry itself. His job is to predict the financial futures of the country and release financial reports to the President and Congress to assist them in their decision-making processes as to where the country’s spending would best utilized. By the virtue that our government chooses to place him in a position of answering questions about his judgement and skill with economic markets, shows how badly our leaders understand their own positions. Remember, the man is just an economics professor – not a politician.
Report Post »NickDeringer
Posted on April 26, 2011 at 9:37pmThese should be about as informative as White House news conferences. Will anyone have the guts to ask him if we can audit the Fed? Probably not.
Report Post »longun45
Posted on April 26, 2011 at 9:35pmOl Ben is going to stand there and lie his butt off, nothing he has not done already. Another non event.
Report Post »Rooster61
Posted on April 26, 2011 at 9:35pmWhat a bunch of Jokers in this administration. Just who do they think they are fooling? I have never heard such all and out lies. They are just filling the American public with a bunch of bull and what’s even more frightening is that there are people that are falling for it.
Report Post »TaterSalad
Posted on April 26, 2011 at 9:30pmBefore this President goes off on one of his tangents and phony diatribes about how the rich need to pay more in taxes (they already pay 70% of the bill), he should first ask all of the crooks that he either has appointed to his cabinet or his elected officials to pay their own taxes. This would bring down the National Debt with this payment themselves. Clean up your own house first Mr. President before you come knocking on our doors for money!
http://dailybail.com/home/the-tax-man-41-obama-white-house-aides-owe-the-irs-831000-in.html
Report Post »momprayn
Posted on April 26, 2011 at 9:30pmGlenn has been talking about the Fed a lot lately and I agree with him. I knew about it before he started on it. Another subject most Americans aren’t aware of. I didn’t understand either until last year. Everyone needs to get educated about it too. Very scary & poised to bring us down as we speak. Needs to be exposed and dismantled.
Report Post »goteegrooves
Posted on April 26, 2011 at 9:28pmThe task is set out before him to move the 14 trillion mirrors and smoke machines into a different position without anyone doubting his statement of, “It’s ok, we are OK! . . . . . really” He has got to be ******* his pants even being a Fed worker!
Report Post »frustratedwithgovt
Posted on April 26, 2011 at 9:28pmIf you want to understand the Fed then read the Creature of Jekyll Island. After that I’m pretty sure what the Fed does / has been doing starts to become a bit clearer.
Report Post »frustratedwithgovt
Posted on April 26, 2011 at 9:29pmOr do a web search on the “Mandrake Mechanism”….
Report Post »AngelThree
Posted on April 26, 2011 at 10:33pmGreat Tip Frustrated…. Never went down a Rabbit Hole so Fast. That Mechanism is an Amazing little Engine…. So the only Actual way to Eliminate Debt is to Eliminate the Borrower…ie..Getting the Debt Manageable is Manageing the Amount of Lives in the System. Scary, Scary Concept… Definitely a system of Perpetual Slavery….
Report Post »Rob
Posted on April 26, 2011 at 9:25pmJUST QUIT SPENDING!
(lower case)
Report Post »koyettsu
Posted on April 26, 2011 at 9:24pmI want Bernanke arrested and charged with fraud.
Report Post »Darmok and Jalad at Tanagra
Posted on April 26, 2011 at 10:33pmI want the TSA to look for our money. They don’t stop the “Aggressive Pat Down” until every dime is recovered. At least it would be good entertainment, make it a Pay Per Veiw event.
Report Post »Dannowood
Posted on April 26, 2011 at 9:23pmWe are toast
Report Post »Aikes
Posted on April 26, 2011 at 9:22pmThe Federal Reserve is a company and should be treated as such. The problem is that this company has the power to destroy our economy and nation, to funnel funds to wherever it wants whenever it wants, to make investments with the value of our economy, which is a power that not even banks have. Who are the investors? Who really runs the fed? Why has this international entity been given power over the lifeblood of our nation? And why is it that the people are not allowed to know what goes on there or have a say in it? The Federal Reserve is the largest money laundering institution in the world. Eventually the power of the fed will fall apart, but it is most likely going to coincide with the failure of the dollar.
Report Post »leftcoastslut
Posted on April 26, 2011 at 9:22pmi wasn’t able to see the video, but you can see it in his eyes, in the still picture, when you say yes to “Satan”, hold on baby. you on going on the ride of your life. good-bye
Report Post »5410amh
Posted on April 26, 2011 at 9:20pmBernanke has no knowlegde of economics. If he did he would know that printing large amounts of dollar causes the value of every other dollar in circulation to go down. Resulting in higher costs of goods like food and fuel. Economics 101
Report Post »Mil-Dot
Posted on April 26, 2011 at 10:13pmThese goons are doing it on purpose knowing full well what the outcome will be. They are taking instructions from some foreign entities somewhere, possibly the CFR crowd. The one world govt, open borders bunch. The destruction of the US is the last thing that stands in their way.
Report Post »Sinista MACE
Posted on April 26, 2011 at 10:32pmArrest him for economic terrorism.
Not now, RIGHT NOW.
Report Post »AngelThree
Posted on April 26, 2011 at 9:19pmQuestion #1…. Mr. Bernanke, sir, who exactly owns the Federal Reserve Bank?
Report Post »Question #2…. Would you allow an Independant Auditor chosen by Congress to Audit your Bank?
cheezwhiz
Posted on April 26, 2011 at 9:25pmQ# 3….Mr Bern, who signs your paycheck ( in the front ) ?
Report Post »BetterDays
Posted on April 26, 2011 at 9:37pm#4 we need to see your long form birth certificate, oh and fill out this new passport form before you go.
Report Post »MODEL82A1
Posted on April 26, 2011 at 9:38pmANGEL, you could go a very long way toward answering both of those questions by actually doing your own homework. Unfortunately, you haven’t yet and I doubt you will.
Report Post »NOBALONEY
Posted on April 26, 2011 at 10:00pm#1 George Soros,IMF, and Saudi Arabia #2 Yes, after I resign
Report Post »NOBALONEY
Posted on April 26, 2011 at 10:02pm@CHEEZWHIZ Barry
Report Post »cheezwhiz
Posted on April 26, 2011 at 10:28pm@ NOBALONEY
Report Post »No way Barry pays. He doesn’t pay for ANYTHING. He is not the paying type. He never paid for his own education, he never paid for his own house . Rezko paid for his Chicago house. Soros paid for the White House . Communists and islamists paid for his campaign. The MFMedia do his publicity for free. Ayers wrote a book which gives royalties to Barry . Taxpayers pay for his and his family’s lavish lifestyle and vacations , and for his illegal alien aunty. Him paying ? No way Barry Dunham Sotero Sorbarakh Barack Hussain Obama al-Amriki has ever signed the front of a check
AngelThree
Posted on April 26, 2011 at 10:40pmModel… Spoken like a True Lib… The Trouble with Homework is that it Teaches us Yesterday…Not Tomorrow….
Report Post »staggerlee32
Posted on April 26, 2011 at 11:27pmThat would be the deRothchilds…. I mean the American people…..
Report Post »Randyrocker
Posted on April 26, 2011 at 9:17pmThis man along with this fraud in the White House deserve to be tried and when found guilty for the attempted destruction of the United States, be taken forthwith in front of the networks cameras and placed before a military firing squad.
Report Post »west1890
Posted on April 27, 2011 at 12:37amObama should be impeached, but with all the gutless wonders in Congress it will never happen.
Report Post »DTOM_Jericho (leaving PA)
Posted on April 26, 2011 at 9:14pmEnd the fed.
Report Post »Mil-Dot
Posted on April 26, 2011 at 10:10pmThis criminal should be tried then hanged for treason.
Report Post »101
Posted on April 26, 2011 at 10:55pmIf you take “Federal Reserve” and change some letters around it spells “PONZI SCHEME”
Report Post »vennoye
Posted on April 27, 2011 at 3:25amAfraid we are late to the game………link to transcript of lecture Edward Griffin made on Fed 4-4-2000-
Report Post »and the Mandrake Mechanism
http://www.theantechamber.net/UsHistDoc/CreatureJekyllIsland.html
MiketheTrucker
Posted on April 26, 2011 at 9:09pmBernanke: “The runaway inflation has nothing to do with QE2. There’s nothing to see here, move along”.
Report Post »staggerlee32
Posted on April 26, 2011 at 11:25pmor QE3…. oops I mean look at that tree.
Report Post »MODEL82A1
Posted on April 26, 2011 at 9:07pmMore of the same. Trying to change the definition of “Insanity”.
Report Post »DogWithA_Bone
Posted on April 26, 2011 at 9:19pmWill he address the recent developments with the IMF and S&P?
Will he tell us EXACTLY how much money they have printed?
Will he do anything of use to the average American?
Report Post »No1YaKnow
Posted on April 26, 2011 at 9:20pmGood Bennie–let’s skip your little conferences and go straight to an audit!
Report Post »cheezwhiz
Posted on April 26, 2011 at 9:22pmI’m sure he will lecture us on bringing the communities together so that America can move forward towards progress , blame Bush for deficits and poke fun at Glenn.
Report Post »MODEL82A1
Posted on April 26, 2011 at 9:26pmCHEEZ, one thing I Absolutely Guarantee: Ben WILL NOT refer to Glenn Beck, directly or indirectly, for any purpose whatsoever. Sorry to burst your bubble.
Report Post »BetterDays
Posted on April 26, 2011 at 9:34pmIt’s magic, you work hard to earn a wage, my agent the IRS will tax you for your labor but will only provide you with government programs that cost you more. Then to pay for your unasked for unwanted government programs they borrow from me. I invent some paper I call money from out of thin air, I lend it to you, your government at an interest rate and you, the government repay me with real money, pretty nice for me, and csrew you. BTW you owe me 14 trillion real money so pay up, or I’ll sic my dogs on ya, deadbeats.
Report Post »randy
Posted on April 26, 2011 at 9:44pmNothing but Smoke and MIrrors.
The entire Obama Administration should be behind bars!
We can only pray the proceedings to put them there starts in 2012.
MiketheTrucker
Posted on April 26, 2011 at 9:44pmBernanke and a majority of Fed officials counter that those higher prices are temporary and, apart from energy and food, won’t lead to substantially higher prices overall.
He’s either a liar or a fool.
If they don’t raise interest rates, and decide to proceed with “QE3” in July or August instead(because no one is buying our bonds) we will see the DEATH of the dollar followed by hyperinflation.
Our “leaders” are as much to blame because they didn’t cut the deficit for this year.
These people, ALL OF THEM, must GO!!
Report Post »SavingtheRepublic.com
Posted on April 26, 2011 at 9:57pm^______^______^
Conference will be nothing but a circus with pre arranged Q/A just like BHO. As for transparency, yea uh huh sure a private bank created by individuals using aliases is now going to be transparent. Fine let Ron Paul and the rest of Congress access to ALL the books. Oh and please stop Ben with we aren’t running a printing press you are we all know you are.
Also clear Ben wont come clean about the debt they have been monetizing he said they aren’t doing. Cant wait to see the paper journalists softball questions.
Report Post »drphil69
Posted on April 26, 2011 at 10:06pm“we’ve always been at war with eastasia…”
Report Post »Darmok and Jalad at Tanagra
Posted on April 26, 2011 at 10:13pm@drphil69
Report Post »Love the Orwell reference.
Professional Infidel
Posted on April 26, 2011 at 10:14pmI expect it all to be lie’s!!!, Flavored with Bu– Sh-t. Call in the friendly fire.
Report Post »tower7femacamp
Posted on April 26, 2011 at 10:26pmRothschild Puppet
Report Post »cheezwhiz
Posted on April 26, 2011 at 10:39pmMODEL82A1
Report Post »CHEEZ, one thing I Absolutely Guarantee: Ben WILL NOT refer to Glenn Beck, directly or indirectly, for any purpose whatsoever. Sorry to burst your bubble.
————-
Not Glenn Beck BY NAME but typical DC terms like :
conspiracy theorists,
doomsday prophets,
naysayers,
some in the media,
you know who I’m talking about,
those obsessed with gold,
some with no degrees in economics etc etc .
I’ll be intersting to go thru that transcript :D
Darmok and Jalad at Tanagra
Posted on April 26, 2011 at 10:54pm@cheezwhiz
Report Post »You forgot to mention a religious reference, something along, “those who go to church for more than an hour on sunday”
mtnclimberjim
Posted on April 26, 2011 at 11:33pmI bet the dumb ass tells us that we are going to “win the future”
Report Post »CatB
Posted on April 26, 2011 at 11:40pmHe will say that they are keeping interest rates at near 0 .. to continue to destruction of America with “cheap” money .. RAH RAH! The Printing away of America will continue …
Report Post »Gold Coin & Economic News
Posted on April 26, 2011 at 11:53pmWhy am I not thinking he’s going to say anything of any substance?
Report Post »vennoye
Posted on April 27, 2011 at 12:21amdrphil69
Right On That One!!! They all even learned “Doublespeak” to the max!!! I must have lived too long since I’ve seen “Science Fiction” turn into “Reality”
Report Post »missionarydad
Posted on April 27, 2011 at 1:03amWhat I would like to see is him agree to have a round table discussion with one undisclosed Senator and one unnamed Congressman and then have it be Ron and Rand Paul.
http://www.saywhatyoureallymean.blogspot.com
Report Post »gofigureinternational
Posted on April 27, 2011 at 1:14amI think Thomas Jefferson in a Letter to the Secretary of the Treasury Albert Gallatin in 1802 summed it up best, “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
How prophetic was that statement? So if you were ultra wealthy and were schooled on Jefferson, would it not make sense for someone to grab the idea and run with it a hundred years ago?! Welcome to the invention of the Federal Reserve! Unfortunately, we are now the “children that are soon to wake-up homeless”.
For all those that think the 2012 election is just going to roll around like normal, this regime is pushing the timetable up on all of this. If they can implode our economy (via multiple wars, gas prices, devaluing the dollar, foreign invasion of illegals bleeding us dry, etc.) and cause civil unrest-TRUE civil unrest, there can be a case made by the United Nations to come in as “peace keepers” to help instill civility back to the U.S. I am sure China would be more than willing to help out since they have been growing their military 3-5% yearly for a decade. They were also allowed to take 1/3 of their U.S. dollars out of the IMF and convert them into Gold (thank you Barney Frank). Anyone like to guess what they have made on that alone from 2008 to now! And how would we even fund the battle groups and fuel them if anything transpires on our soil, i.e. an attack or forced ‘assistance’ from the U.N.? We have virtually no producing domestic sources of oil and this administration is doing all they can to restrict future drilling. All these events may seem happenstance, but there is a definite plan. Most of us are just not privy to it. We are in for a hxll’ve ride between now and 2012 and then we will be lucky if the U.S. can survive the aftermath! Sad days watching these naïve or borderline treasonous elected and nominated officials sell out the United States!
Report Post »ChiefGeorge
Posted on April 27, 2011 at 1:20amYour going down Bernake!
Report Post »thinkinghuman
Posted on April 27, 2011 at 1:25amBlaze wrote:
“The chairman’s public appearances have followed criticism that the Fed, an independent government agency…”
What?? Doesn’t Blaze KNOW that this is NOT a Federal anything, but is a private bank?? Even Beck says this on his show, and many others have known this for DECADES. Creature From Jeckyl Island is a must read. Beck promotes it too.
Report Post »thepatriotdave
Posted on April 27, 2011 at 2:16amNo1YaKnow
Posted on April 26, 2011 at 9:20pm
Good Bennie–let’s skip your little conferences and go straight to an audit!
————————————————–
Can we force an audit on a privately owned business? I’m under the impression that the FED would have to be put out of business before we would ever get any sort of accounting from them. Am I wrong?
Prez Poll Ended… West Wins Big…
Report Post »http://www.AmericasTeaPartyNews.com
thepatriotdave
Posted on April 27, 2011 at 2:18amAny bets that this turns into the best song and dance routine we have seen in years? I’m hoping he screws up and raises more questions. The Fed needs to have the screws put to them so we can learn the truth.
Report Post »AmericanPatriot01
Posted on April 27, 2011 at 3:00amHe knows his time is short! they will manipulate all conditions to thier favor!
*** ELECT RON PAUL *** and we will systematically remove the FEDERAL RESERVE BANK from the equation. Ending the FED and the IRS in one fell swoop!! AUDIT THE BOOKS and recapture the stolen wealth of the American people!!!
Report Post »avenger
Posted on April 27, 2011 at 6:13amperhaps he will do the honorable thing and commit seppuku on tv……
Report Post »BehindBlueEyes
Posted on April 27, 2011 at 6:19amI hope he explains why its a good idea to keep printing money and devaluing the dollar. Its the biggest theft of wealth in the history of the planet.
Report Post »GETLIFE
Posted on April 27, 2011 at 6:45amEh blah blah blah…. I’ll make a daring prediction: We shall learn nothing, and we shall certainly not change their strategy. The press should boycott.
Report Post »Anarcho Capitalist
Posted on April 27, 2011 at 7:32amThank God Ron Paul is running.
Report Post »GhostOfJefferson
Posted on April 27, 2011 at 7:59am“Bernanke and a majority of Fed officials counter that those higher prices are temporary and, apart from energy and food, won’t lead to substantially higher prices overall. ”
Think about this for just a moment if you will. The absolute nonchalance involved with this statement is breathtaking. “apart from energy and food”. Yes, apart from those, “we” will be fine. And what does that really mean? Well, frankly, people with means, and I mean to indicate upper middle class and above, will be able to weather this. But what about the middle class and the poor? Energy and food (and shelter) where the majority of their entire income goes into. If energy and food continue to rise, as expected, what will become of them? This seems to me to indicate an intentional policy meant to exterminate the middle class and shift the poorer classes deliberately onto government dependence. Speculating here, but then the upper middle class (to which I belong) become the new, lower expectation less alfluent types and the upper class remains the same. I suspect that after that, they attack what remains of the middle class and poof, poor and elite…just like the rest of human history where we were lorded over by tyrants and kings.
Yes folks, the nonchalance is stunning. Like they don’t even care that we know.
Just musing out loud this morning, pay me no heed.
Report Post »Jackers
Posted on April 27, 2011 at 8:23amApparently, Bernanke has been “practicing” for this presser for months with actual rehearsals… Kind of like a play…
Report Post »jackrorabbit
Posted on April 27, 2011 at 9:47amInflation is beginning to show up in full force, and the FED doesn’t have a choice any longer. They are going to raise rates, and it might be a large raise. I expect to see something crushing from today’s meeting. Dear God, I hope I am wrong.
Report Post »LIBERALSBEDAMNED
Posted on April 27, 2011 at 10:06amLol
Report Post »