Bernanke: He completely ignores a direct question as to why the Fed takes credit for rising...

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Clayton Rulli Comments (1495)
 
who asked that question, Ron Paul?
13 Sep 2012, 02:34 PM Reply Like

jerrycalpha Comments (48)
 
"We'll be mindful of inflation as we buy bonds"

Hmmm
13 Sep 2012, 02:38 PM Reply Like

RS055 Comments (367)
 
The Fed has always stated that its policies dont pay attention to comodity prices ( that are moved by geopolitics, droughts etc). Therefore the only "inflation" they try to control is Wages. So in short their mandateis really:
1. full employment: get folks working hard
2. Keep wages down

the effect of such a policy is to flow all the productivity gains etc etc to flow to capital/Wall Street.
13 Sep 2012, 02:40 PM Reply Like

bbro Comments (7839)
 
Bernanke deserves the Medal of Freedom....
13 Sep 2012, 02:42 PM Reply Like

bigdividendsonly Comments (26)
 
Medal of prison next to Bernie.This is a pure tax on the poor and middle class ! Worse than the HCA !
13 Sep 2012, 02:44 PM Reply Like

The Hammer Comments (2986)
 
bbro, you stand next to him when the poor, pensioners and middle class come after him with pitch forks. The cost of living is going to accelerate upwards in the next 5 years eating up disposable incomes like a bonfire. In modern times americans will be facing very dificult times as tough decisions will have to be made in order to fill the car up or put food on the table. $5 dollar gas will be the norm in the not to distant future. Food inflation is increasing at a fairly rapid rate taken into account smaller packaging.

This bastard bernank along with some others have put America in a perilous position you just do not realize it yet. You will and I will be here to remind you and the other oblivious idiots promoting this sort of actions.

Gold will be the go to place for safe money. Got gold? Probably not, but you will want some at the top. It will be a little to late.
13 Sep 2012, 03:32 PM Reply Like

DianeLee Comments (294)
 
bbro, there you go stirring the pot again. ;) but I'll put my hand up as at least one "like" and a Bernanke admirer. He walks a tremulous fine line very well, overall (and that's a key word) methinks. (red meat for the Bernanke-haters, I know.)
13 Sep 2012, 05:13 PM Reply Like

bigdividendsonly Comments (26)
 
Between the President's HCA acting as monster middle class tax this will be even a worst tax on the poor and middle class. It will pop the prices on everything as the dollar sinks. The World Bank is warning that food to feed hundreds of millions of third world will starve as prices to feed them rise. Japan must act to reduce the Yen's value and the great currency war continues.
13 Sep 2012, 02:42 PM Reply Like

Gary Jakacky Comments (1832)
 
Bernanke makes me embarassed to be an economist. Thank god Beach Pundit here at SA talks some sanity.
13 Sep 2012, 02:42 PM Reply Like

kmi Comments (3844)
 
The bump in some commodities is speculative longs performing dollar hedging (oil, gold, silver) and in some commodities is speculative longs based on the belief in an improving economy (copper, iron).

But in the end, its speculative longs and not reflective of real supply and demand for economic activity.
13 Sep 2012, 07:36 PM Reply Like

Santaku Comments (5)
 
Speculative hedging...this concept had never occurred to me before. Thanks for the thought.
14 Sep 2012, 04:28 PM Reply Like