Oops! I’m sure that’s the thinking of some of Federal Reserve Chairman Ben Bernanke’s underlings to the CNBC story that United States core producer prices rose slightly faster than expected in March, “pointing to a broadening in the pipeline inflation pressures,” as CNBC framed it.
Oops. The cat’s out of the bag, to coin a phrase. They tried so hard to keep it a secret. How else to explain the fact their indexes for monitoring inflation exclude food and energy, ostensibly because of their volatility.
Of course, only the elites are surprised. Those of us who’ve been buying groceries and filling our cars with gasoline on our way to and from work have been feeling the pinch for some time.
And regular readers of Personal Liberty Digest™ shouldn’t be surprised. After all, I’ve been warning you about inflation for a very long time. It’s an inevitable outcome as Bernanke’s printing presses work around the clock.
Bernanke wanted QE2 to prop up the stock market and give the illusion that wealth was being created… that the economy was okay. He’s propped up the market alright, and his bankster and Wall Street buddies are grateful.
Out here where the cows graze (or the widgets get made or the service is performed, etc.), folks aren’t quite as happy. And trading that gas guzzling SUV for more gas-friendly model—as President Barack Obama so snidely suggested a couple of weeks ago—isn’t an option if you’re already underwater on both your home and that SUV, your job has either been eliminated, your salary cut or hours reduced and that $150 weekly grocery bill has climbed to $175 or more.
Now President Barack Obama and Congressional Republicans are arguing over cutting pennies and promising to do something to help the economy. But a recent Rasmussen poll showed that 45 percent of likely voters fear the government will do too much to help the economy.