Thursday, December 20, 2007

Thanks Benny B

Econ 101:

lower interest rates in US = less demand for $USD = lower value for $USD = higher dollar denominated commodity prices = INFLATION

Ben Bernake, PhD must have missed this lesson during his years of studying economics. That is one explanation as to why he is purposely creating inflation. That or he is beholden to Wall St and is screwing over the masses to help the elite. Which is more plausible I wonder.

Thanks to Benny B this is what we get:

Food prices soar in America

NEW YORK ( -- John Norris' family is drinking a lot less milk these days. He said he considers the higher prices and has cut back on his kids' milk consumption. But between work and family obligations, he still drives almost as much as he used to.

The Norrises aren't the only family getting pinched at the grocery store. Prices of food and non-alcoholic beverages rose 4.7 percent since the beginning of the year through November, outpacing the 4.3 percent increase in the overall cost-of-living, according to the federal government's Consumer Price Index.

Everyday foods like fruits and vegetables, beef, poultry and cereals are on the rise. The price of milk is the biggest culprit, with a staggering increase of 23.2 percent through November. And with basic foods like dairy and wheat driving up the cost of other groceries, almost everyone is feeling the squeeze.

Ahh but according to Benny B inflation is of no concern. According to Benny B and his bogus government statistics inflation is only 2% since the 100" LCD dropped in price form $3000 to $2000. If I bought a new LCD every month that would be wonderful. However I buy milk and bread and gas every month. And I heat my home with natural gas which is up double digits. Prices are going up for things I **NEED** and dropping on things I **WANT**. Not such a good trade off.

Using 2% according to the bogus numbers, more rate cuts will be coming. Rate cuts that will help Goldman Sachs and Merrill Lynch but hurt the other 99.9% of the population. So next year as you are filling up with $4 gas to go buy a $5 gallon of milk, remember to say thanks Benny.

And just in case you think having a Democrat in the White House will change any of this, here is the donor list to Hillary. The names are quite familiar; Goldman Sachs, Merrill Lynch, Morgan Stanley, Citigroup, Lehman Brothers, Bear Sterns. All the usual suspects. But Democrats are out looking for the interests of the middle class, or so the MSM keeps telling me.

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