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| Subject: Bush-bernanke just pushed the inflation button again, and prices are responding, rapidly! | |
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Author: jw |
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Date Posted: 15:49:06 10/31/07 Wed In order to salvage the failing american real estate bubble, burnanke has lowered the federal reserve bank's lending rate another quarter of a percent. A few months ago bernanke triggered a spike in inflation and a dip in the value of the dollar by lowering the interest rate by a half of a percent, since then oil went from 80 dollars a barrel to over 90 dollars a barrel and the dollar lost 5% of it's value against the euro and even many third world currencies. Today, oil spiked upward $4 a barrel, even with investment house goldman sacs liquidating it's portfolio of oil futures to take profits. For 4 years oil prices have been surging, along with food, medical care, drugs, education, and many other commodities and services. We were promised by the capitalists that markets would solve our problems, do not resort to government regulation, the capitalists lied and profited heavily from our stupidity. Some have suggested that our capitalist system gives us a choice, we do not have to pay these high prices for food, fuel and medicine, we can choose to die, they obviously have not seen the astronomical costs of funerals! [ Next Thread | Previous Thread | Next Message | Previous Message ] |