The Federal Reserve held a news conference today to explain how everything is under control and in 3 years, unemployment might get back down to 7%
Initial reaction – interest rates are sharply higher (Greece bonds are approaching 16%)… It now takes over $1.47 to buy a Euro, commodity prices continue upward
It’s the middle of the night in Japan and China. I would expect the central banks around the world are busy “consulting” with each other.
“He [Bernanke] says the rise in the price of oil accounts for most of the inflation forecast, “but there’s not much the Federal Reserve can do about gas price per se.”
Wow, this leads in one of two directions. Even Glenn Beck has realized the price of oil is going up because the world has a glut of unwanted dollars, not because there is a shortage of oil.
That leaves the options of 1) He’s a total clueless moron who has no idea how the global economy works or 2) He’s lying
I’ll go with option #2.
The Dow Index has been “rising” because Wall Street is inflating the index. In lieu of any increase in real ‘value’, the index merely reflects a (devalued) dollar ‘price’.
Gold/Silver prices AND the Stock Market increasing at the same time?
Something is wrong somewhere…
Hey – look out in the ocean – does that wave look strange to you?
Why is the water rushing out to sea for no reason. I don’t get it!
Hey, let’s use this opportunity to dig for clams while the tide’s out.
So, which “he” is the clueless lying moron? Beck or Bernanke?
Your call 🙂
Beck is just noise, Bernanke is the one that matters, not too much noise, but real power.