MSM gets it finally

Hey CNN welcome to the club. I have been saying this for weeks, ney months, nice to know someone in the MSM gets it.

Simple really:

Lower rates.

Kill dollar.

Make oil more expensive.

They teach this stuff around October during freshman economics. I only got a BA in econ and I know this. Bernake has a PhD and he either doesn't know or doesn't care. Either way that's bad news for all of us...well all unless you are the CEO of an investment bank in which case you just made an extra $15M bonus this year. Who cares if gas is going to $5? Sure it'll cost a little more to run that 80' yacht in the Hamptons next summer, but oh well.

So once again the top 0.1% gets the spoils of war while the rest of us plebs get raped. $5 gas. 20, 30% rise in heating costs too. And as we learn in November freshman year, oil is inflationary throughout the economy. More expensive gas means truckers charge more which means everything that is moved by truck costs you more. You need to pay more for your goods, so you demand more money from your employer. Your employer pays you more and raises the price of his goods/services. And on and on. It is what caused the inflation of the 70s.

What we need is a new Paul Volker. He was the Fed Chairman from 1979 to 1987. He did what the Fed is there to do...kill inflation. And yes he was loathed by Wall St. But he brought inflation from double digits to low single digits. Unfortunately today the Fed's mission is to make Wall St millionaires into Wall St billionaires and it is disgusting.

So when you pay $100 to fill up your tank say thank you Mr.B.