Busted: Bankers and The Global Economy

February 28, 2008

Energy Prices Creating Inflationary Stress

Filed under: federal reserve, government, money — Tags: , , , , , , , , — digitaleconomy @ 12:34 am

High energy prices are creating “inflationary stress,” Bernanke said today before Congress. And, that is “complicating” the Fed’s work in terms of shoring up the economy, the Fed chief said.

President George W. Bush, at a news conference today, noted the slow economic growth but said the nation isn’t headed into a recession.

The article is very interesting as long as you can look past the lies, like the fact that the United States is not in a recession. That is wishful thinking.

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1 Comment

  1. I love their solution… lower interest rates.

    I guess Bernanke doesn’t understand that him printing more money devalues the purchasing power of the money in circulation, which directly correlates to people spending more to attain the same project.

    When congress or the Seante fuss about this… the FED cuts the rates allowing more money to be printed.

    I don’t think they quite understand it is not the lack of paper in circulation that is driving prices up…

    -James
    http://www.thepoliticus.org

    Comment by jposty — February 28, 2008 @ 4:18 pm


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