basehitz

Scary Drop in Velocity of Money: Is Deflation Knocking?

“Bernanke has said we will have inflation. If you have cash, you are de facto an enemy of the people”

My elderly mother who lives off interest income is being punished by our central banker, as are all people who lived within their means and accumulated savings. Banana Ben should at least acknowledge that, due to the misguided policies of the Federal Reserve for 30 years which encouraging indebtedness, that he has no real solution to our predicament.
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Instead, they paper over problems, allow banks to submit fraudulent financial statements, and promote govt giveaways hoping to create the illusion of prosperity. So far, most people aren’t buying the BS as reflected in higher savings and lower spending. It’s about time!