91%
From the Fed's statement on today's rate cut:
If you haven't visited the wall of shame, take a look and tack that statement onto it. Listen, they're telling you what they're prepared to do. If it drives oil to $150 or $200, a gallon of gas to $8 or $10, and the dollar down another 25%, they will do it. I can't emphasize that enough. That doesn't mean go out and load up on gold or oil. They've had huge runs, are infested with momentum players, and are due for a pullback. And just as important, we're definitely on intervention watch now; if a "scald the speculators" dollar prop and gold cap is going to happen, I'd expect it to be soon if it's not underway already.
Related:
On the defining issues of the day, in this case Iraq and inflation, has there ever been a government that's so openly -- and almost proudly -- flouted the clearly-expressed will of the majority of Americans?
The Committee expects inflation to moderate in coming quarters, reflecting a projected leveling-out of energy and other commodity prices and an easing of pressures on resource utilization. |
If you haven't visited the wall of shame, take a look and tack that statement onto it. Listen, they're telling you what they're prepared to do. If it drives oil to $150 or $200, a gallon of gas to $8 or $10, and the dollar down another 25%, they will do it. I can't emphasize that enough. That doesn't mean go out and load up on gold or oil. They've had huge runs, are infested with momentum players, and are due for a pullback. And just as important, we're definitely on intervention watch now; if a "scald the speculators" dollar prop and gold cap is going to happen, I'd expect it to be soon if it's not underway already.
Related:
Ninety-one percent of respondents to a recent poll said they are somewhat or very concerned about the rising rate of inflation, according to a national CNN/Opinion Research Corp. poll released Tuesday. ... |
On the defining issues of the day, in this case Iraq and inflation, has there ever been a government that's so openly -- and almost proudly -- flouted the clearly-expressed will of the majority of Americans?
posted by The Cunning Realist at Tuesday, March 18, 2008
15 Comments:
Come January, if McCain is elected, we can expect more of the same. He's admitted he knows nothing about the economy (and sounds like he's not interested in it) and in the last two days has confused the Sunnis and the Shias twice.
Listen, they're telling you what they're prepared to do. If it drives oil to $150 or $200, a gallon of gas to $8 or $10, and the dollar down another 25%, they will do it. I can't emphasize that enough.
CR, I'm not sure I understand why the Bush administration wants to push oil up and the dollar down. Is it being done to stave off the worst of a recession in an election year?
Seems like a house of cards to me.
The Fed is concerned with deflation. The deflation of financial assets. CPI inflation is irrelevant. They don't give a flying fuck. The price of gas doesn't even rate as an irrelevancy to any party who was in on last weekends confabs. They all own their own jet planes for Christs sake.
Well Ben doesn't but he works for them. "Can I ride in your plane someday Mr. Paulson?" he says.
Since there isn't a sliver of difference between the two parties on this the pigmen can do what they want. If the people get uppity there is always homeland security.
A house not located in one of the hot subprime areas, bought 20 years ago, no improvements (i.e., 20 year old furnace, roof, etc --- no amount of economic hedonics can change that), costs 3 times the original purchase price or increased 5.6% annualized (what have saving rates been?). Of course utilities, insurance and property taxes have all increased each year too.
If your wages aren't 3x's what they were, you fell behind. You made $40,000, now you need $120,000 to buy the same house. And it's not even the same house because it is 20 years older. The situation is worse with new homes.
Isn't problem, going forth, going to be exponential because of the policy and the sheer numbers.
This is just one aspect of real middle America life, now apply it to food, utilities, healthcare, just non-luxury items one needs to live some sort of average quality life.
Just thinking outside the box, is the Bush admin (whose reputation on transparency and telling the truth is, well, not so good, if you follow the historical trend), the politicized, non-elected, non-transparent Fed, just feeding their wealthy cronies (we know their emphasis is on the 1%) one last time. Anyone following the money. The trail less mainstream media covered.
hee hee...the first anon. In a nation run on debt and paper what else are they going to do? The only other solution is the Volcker solution...guaranteed recession...don't get me wrong, that would be the correct solution.
Our political elites decided on global hegemony vs a sound economy and the people's interests...a long time ago. We ain't got much left but our corrupt financial institutions and the military industrial complex. What's a declining superpower to do?
CR, today we see gold, silver, and oil all dropping, as if on cue from you. Amazing........
Whammer
Seems like a house of cards to me.
Let me confirm it for you. It's been a house of cards for years. Bush took every form of short-term stimulus and turned them into long-term policy.
Here's a graph of GDP with and without home equity withdrawal. That home equity was based upon bloated bubble figures, of course.
So GDP looks like it was home equity driven. Except for the fact that consumer debt also went up. And savings went down. And the gov't pushed out hundreds of billions in deficit fueled stimulus every year.
This administration's policies have been a disaster that will take a long time to fix.
hehehe...ohhh noooo...gold went down. Thank God for the fed! They had it under control all along. I'm such an idiot. I'm going to sell all my bullion today.
"has there ever been a government that's so openly -- and almost proudly -- flouted the clearly-expressed will of the majority of Americans?"
Nope. But that has been their modus operandi the entire time hasn't it...
Martha Raddatz: “Two-third of Americans say it’s not worth fighting.”
Cheney: “So?”
This was on the news last night. What is missing from Cheney's response is: first he wouldn't answer Martha's question, he did a song and dance, then there was a long pause, an arrogant "so", shrug of the shoulders, smirk, smile. He was so proud of that "so". Two little letters, one word, and the tonality, and body language that drove a FU stake right into the center of the American people. He was proud. I'm king, you're not. Megalomaniac? Oh yeh.
It is so ironic that we have leadership that says, at least (we don't know if their actions match their words), Democracy for Iraq, but something else at home. What an administration.
HATE.IN.MY.HEART.
That's all I got today man, I swear.
Hey...we are just getting what we deserve. In some ways its refreshing to see our politicians be so brazen about giving Americans the finger. Usually they do it behind their backs so they don't even know it!
I don't know what to say because since the economy recession the inflation has been so hard, for that reason I think I should read more about it.
What exactly you're saying is a huge mistake.
I absolutely match with the article.
Well, I do not actually believe it is likely to have success.
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