There Are Now TWO AMERICAS – The America That 99.9 Percent of OUR Fellow Countrymen Live In And….BERNANKE-LAND…Made Up the Fed, Wall Street and Our “Elected Leaders” – After the Fantasyland Press Conference Yesterday By Uncle Ben “Inflation Is Low…I Swear…Just Like I Said There Was No Real Estate Bubble…Oh, Sorry About That One” Bernanke That Included A Dozen Plus Stooges and Toadies From the Washington “Non-Press” Corps the TWO AMERICAS Is More Clearer Than Ever – How About Some FACTS Instead of Nonsense From A Man That Hasn’t Done An Honest Day’s Work In His Life? – Yes, That Actually Makes Sense! – Some Perspective From A Friend On Wall Street On The Fed’s Easy Money Policy, the US Dollar, the Euro, Future Gas Prices and the Pummeling of the American People By the Money Printers at the Fed – Yes, Wall Street Always Makes Money…Only With Current Fed Policy Wall Street Gets Richer and the American People Get Poorer…Just Another Work Week for the Federal Reserve Boys and Girls As the US Dollar Continues to Be In Freefall!
After Chairman of the Federal Reserve Ben Bernanke’s press conference yesterday it is more evident than ever that there are now TWO AMERICAS one where 99.9 percent of all Americans live their daily lives in and then the other place which we will call:
Long before former Democratic Presidential candidate and the Complete Fraud John Edwards started talking about “Two Americas” another American politician over 40 years ago spoke eloquently about America being divided into two separate groups…The Haves and The Have-Nots and that politician was Robert F. Kennedy.
If only Robert F. Kennedy could see what is going on in America today with a arm of the US Government in the Federal Reserve waging a Complete and All-Out war on the American People with a cruel “money printing” policy to prop up the Wall Street Bastards which is destroying the value of the US Dollar and thus the buying power of the American People’s hard-earned money.
Yes, one can only wonder about RFK would say about that Gong Show in Fantasyland press conference that Uncle Ben “All is Well” Bernanke held yesterday, because it seems that Bernanke and the Fed’s Open Market Committee members actually believe that inflation is under control and is running about 2 percent a year.
NOT! Think 6 Percent or higher…EASILY!
Oh, these are either some Very Evil and Deceitful People or some just plain Very Stupid People.
If there is anyone that knows what is going on in the daily lives of average Americans it is Wal-Mart CEO Mike Duke and unlike Ben Bernanke that has not worked a day of his life in the Real World, Mike Duke has spent a lifetime interacting with Americans from all walks of life and from where we sit it is obvious which man knows of what he speaks. ZeroHedge.com has the story:
“When a month ago the CEO of Wal Mart Americas told the world to “prepare for serious inflation”, the Chairman laughed in his face, saying it was nothing a 15 minutes Treasury Call sell order can’t fix (granted net of a few billions in commissions for JPM). 4 weeks later the Chairman is no longer laughing, having been forced to hike up his inflation expectations while trimming (not for the last time) his economic outlook. “U.S. consumers face “serious” inflation in the months ahead for clothing, food and other products, the head of Wal-Mart’s U.S. operations warned Wednesday talking to USA Today. And if Wal-Mart which is at the very bottom of commoditized consumer retail, and at the very peak of avoiding reexporting of US inflation by way of China is concerned, it may be time to panic, or at least cancel those plane tickets to Zimbabwe, which is soon coming to us.” In light of that perhaps today’s words of caution from Wal Mart CEO Mike Duke will be taken a tad more seriously (yes, even with the $50 billion in “squatters rent” that the deadbeats spend on iPads instead of paying their mortgage: that money is rapidly ending). Warning is as follows: “Wal-Mart’s core shoppers are running out of money much faster than a year ago due to rising gasoline prices, and the retail giant is worried. “We’re seeing core consumers under a lot of pressure,” Duke said at an event in New York. “There’s no doubt that rising fuel prices are having an impact.” Tell that to Printocchio please.
Wal-Mart shoppers, many of whom live paycheck to paycheck, typically shop in bulk at the beginning of the month when their paychecks come in.
Lately, they’re “running out of money” at a faster clip, he said.
“Purchases are really dropping off by the end of the month even more than last year,” Duke said. “This end-of-month [purchases] cycle is growing to be a concern.””
Recovery is ongoing? There is limited or very little inflation? “The Fed sees low inflation going forward?
Please, is there someone in Washington DC or at the Federal Reserve that can take Uncle Ben “To Hell with the American People! My goal is to make Wall Street rich and if I have to destroy EVERY FAMILY in America to achieve my goals then I will do just that!” Bernanke out into Real America so he can see first-hand what his “money printing” and US Dollar Destroying policies are doing to average Americans?
Oh, Uncle Ben Bernanke is like everyone else at Princeton University and on Wall Street that believe that they are better than most Americans and shouldn’t have to mix with the unwashed masses?
Well, that is the first thing that makes any sense out of the Bogus and Fantasyland Monetary and “Ponzi Scheme” US Treasury debt program of the Federal Reserve and if you believe you are better than most Americans then you also probably don’t give a Damn that you are destroying their lives and pummeling children around the country that now see less food on the table, more bills not getting paid by their parents and much more stress everywhere they look.
There really is no explaining BERNANKE-LAND and the Absolute Nonsense that comes out of the mouths of the Very Same Morons that almost took down the American Republic in 2008 with monetary policy that they claimed was right then….and was not….and is right now….and is not again.
Instead of the Absolute Nonsense and the Outright Lies that are being told by OUR Government about the inflation rate in America (CPI) we believe that a check of the FACTS are in order to see just what Federal Reserve policy is doing to the value of the US Dollar and how the Fed’s out-of-control money printing is driving up commodity prices across the board at the expense of all Americans that have very little room each month to spend more money on the necessities of life which are all skyrocketing up in price….all thanks to One Complete and Total Idiot:
Uncle Ben “I wouldn’t know an honest day’s work if it hit me in the ass” Bernanke
Yes, let’s go Joe Friday on the FACTS instead of what was put out by Uncle Ben yesterday under the lazy eye of the Washington press corps that also would not know a real or legitimate question if it hit them in the ass!
Yes, “Just the Facts Ma’am.”
Since Uncle Ben Bernanke gave his “QE2 – Quantitative Easing” speech at Jackson Hole, Wyoming last summer (read..let’s get this Ponzi Scheme really going boys and girls to save our asses from Total and Complete Embarrassment!) here is how all of this money printing by the Federal Reserve has impacted US markets (Thanks for one of the best sites to follow financial markets – Finviz.com for their great charts):
Which makes the REAL return on the S&P 500 since last summer only 6 percent or so since the US Dollar has been plunging in value as the markets have been going up.
What about other commodity prices since Uncle Ben and the Fed really cranked up the money printing?
Here’s the real kicker though. There are ETFs (Exchanged Trade Funds) that any investor can put money into that follow ALL of the commodities and let’s see how a couple of those have been performing since the Fed turned on the money printing presses:
So Uncle Ben Bernanke and the Federal Reserve REALLY believe that all of their money printing and manipulation of interest rates has nothing to do with the rise in commodity prices and now the increased prices for goods across the consumer sector in America?
As we said earlier, these are either some very Evil and Deceitful People or they are Just Plain Stupid.
We wanted some “Wall Street” perspective on Uncle Ben Bernanke and the Fed’s policies in the last couple of years so we called a longtime friend of ours that has worked on “The Street” since getting his MBA from an unnamed Elitist Bastard School in New England and his take is very simple:
Wall Street Friend: “The Federal Reserve is running a very loose monetary policy in order to keep down interest rates and to encourage banks, investors, traders and anyone else to move their money into riskier assets which they hope will move money from the sidelines into the stock market primarily. If people come to see that inflation is going up they will then rationally decide they need to make more on their money or risk losing money in real terms (real terms = return on investments – the inflation rate…the REAL inflation rate not the fantasy that the Fed claims is the inflation rate). The only problem is that for a potential short-term political gain from lower interest rates and very accommodative monetary policy the Fed has unleashed the inflation genie around the world that is already seeping into costs at major US companies and those companies will have to pass those price increases along to American consumers who for the most part have seen little to no real or actual income growth in years.”
Mad As Hell And: “Is that what all this money printing is about? More inflation and driving up asset prices?”
Wall Street Friend: “Well, when hedge funds that are investing in things like futures and are making speculative and very short-term bets on all kinds of assets, securities and other things can borrow money from large US banks at lower rates and with easier terms than solid medium and small-sized industrial, manufacturing and production companies in America then there is something wrong and there is something terribly wrong in America when banks are encouraged to make risky loans to speculators and to look at loans to companies that would employ average Americans with a skeptical eye. Yes, there is something terribly wrong and it is all being driven by an attempt by the Fed to drive up asset prices to the exclusion of everything else even job creation in America.”
Mad As Hell And: “That is just crazy, but that is exactly what we are seeing on the bank loan side for business loans with credit still be very tight even for people and companies with good credit that cannot get capital even when the Fed is flooding the banks with money. That money is being poured into the stock market and commodities and not being loaned out which is nothing less than the Fed turning its primary mission on its head in order to prop up stock markets to the exclusion of the American People.”
Wall Street Friend: “That is right on, but there is something else going on here. Take a look at a chart for the Euro currency
Mad As Hell And: “Wow, the Euro is up 23 percent over the last year.”
Wall Street Friend: “And the US Dollar is down 17 percent over the same time.”
Mad As Hell And: “What does that mean?”
Wall Street Friend: “Well, these central banks all work together and there was a lot of concern in 2010 about the debt problems in Europe with Greece and other smaller countries problems might force the break up or downsizing of the Euro system and there has been an active attempt by the central banks to stop that from happening and that means that as the Euro has been bid up by central bank intervention and China moving out of US Dollar investments the Dollar has gone down in value. Add in the easy money at the Fed and that is just driving the Dollar down further as investors and traders look for places to put money in currencies that are not in freefall as the US Dollar is right now.”
Mad As Hell And: “So you are saying the West, America and Europe, and their central banks were concerned about the failure of the Euro and thus they intervened to drive up the value of the Euro which has helped drive down the value of the US Dollar?
Wall Street Friend: “Yes.”
Mad As Hell And: “And now the easy money by the Fed is driving down the value of the US Dollar more and is causing inflation by driving up the prices of commodities which is going to really hit the US consumer?”
Wall Street Friend: “Yes, and that is why if your investments are not yielding at least 6 percent a year via interest payments, dividends or price growth then you are losing money because inflation in the US is running at least 6 percent and is probably closer to 10 percent for Americans that spend all of their paycheck each month just to live their lives.”
Mad As Hell And: “Thanks for that advice and with Silver up 167 percent, Gold up 28 percent and Commodity ETFs up 50 percent in the last year, all investments any American can purchase, it isn’t very hard to beat the money printers at the Fed!”
Wall Street Friend: “Just watch out when the central banks decide the Euro has gone up too much or the US Dollar has declined too far, or when the Asian countries get their act together and decide to quit getting ripped-off by holding US Treasuries which are the worst investment in the world because they are yielding negative rates of return, because when that happens interest rates in the US are going up and that will slow down the price increases we have seen in metals like Gold and Silver, but not in the core items that Americans buy everyday, food and energy and government subsidized things like health care and education from continuing to go straight up. Maybe you should buy a farm!”
Mad As Hell And: “Thanks for that insight, now let me ask you: What will a gallon of gasoline cost in November 2012?”
Wall Street Friend: “Around $4.50 Dollars a gallon would be my guess and headed to $5.00, because if it looks like a Republican will be elected and that the US will start to go after all of its natural resources to help drive down the cost of energy in America, OPEC will want to squeeze every last Dime out of the American People before the party is ended by a sane US energy policy that includes all energy sources: fossil fuels, nuclear, natural gas, renewable, battery, etc.”
Mad As Hell And: “Sounds like the Iranians holding the American hostages in Iran right up until Reagan took over as President in 1980.”
Wall Street Friend: “Exactly like that. If Obama gets re-elected a gallon of gasoline is headed to $10 Dollars a gallon. A Republican and gas will steady around $4 Dollars and head south as natural gas become a big player in US transportation, that is if what you call a “Real” Republican is elected President. If it is another George W. Bush type Republican that doesn’t know his rear-end from the side of a barn and who is not willing to address the very serious problems facing the country America will continue its decline and China will overtake the US by 2020 easy in economic terms.”
Mad As Hell And: “Well, since $10 Dollar a gallon gas would destroy the American People we are working to elect a Real Republican in 2012.”
Wall Street Friend: “Democrat or Republican it matters little to me…Wall Street always makes money!”
Mad As Hell And: “You Bastards!”