"If workers believe prices will keep going up they demand higher wages, which in turn puts pressure on employers to raise prices"
Worker power? Where, Bennie, where??
Yeah, inflation is ALL the WORKERS FAULT!!!
Pffffftttt!!!!!
"Fed chief: Economy might not slip much; But housing slump, energy costs threaten" by Robert Gavin, Globe Staff | June 10, 2008
CHATHAM - Despite the recent jump in the national unemployment rate, chances have improved that the United States will avoid a "substantial downturn," Federal Reserve chairman Ben S. Bernanke said last night.
Bernanke, speaking at a conference sponsored by the Federal Reserve Bank of Boston, said a number of factors, including low interest rates, federal tax rebate checks, strong exports, and stabilizing financial markets, should lift the economy during the rest of the year. He warned, however, that soaring energy prices and the continued housing slump remain threats....
Given the Feds track record and previous optimistic assessments, you'll excuse me if I avoid this particular pile of bullshit!
Bernanke's speech came just days after the Labor Department reported on Friday that the national jobless rate jumped a half-percentage point to 5.5 percent in May, the biggest monthly increase in more than two decades. The unexpected surge in joblessness sent shock waves through financial, currency, and commodity markets, with the Dow Jones industrial average plunging nearly 400 points and oil surging nearly $11 a barrel to a record $138.54.
Yesterday, the Dow recovered 70.51 to close at 12,280.32. Oil retreated, losing more than $4 a barrel to close in New York at $134.35. Bernanke spoke after US markets had closed....
How come gas prices didn't come down then?
Inflation expectations are critical because if workers believe prices will keep going up they demand higher wages, which in turn puts pressure on employers to raise prices more....
Sigh. Yup, inflation is ALL the WORKER'S FAULT!!
Good-fuckin'-Christ, readers!!
Yup, OBSCENE CORPORATE PROFITS, the PROFLIGATE LIFESTYLES of the RICH, the EXCESSIVE LAWYERING, and the MISSING WAR LOOT have nothing to do with it, uh-huh!!!!
Yup, you are GETTING PAID TOO MUCH, 'murkn shit-eater -- so says the Fed guru Bernanke -- and that means INFLATION and HIGH PRICES are YOUR FAULT!!!
Good thing shit doesn't cost much too eat, since that is what the American people are being fed.
EAT UP, 'murka!!!!
The Boston Fed conference, which attracts top academic and business economists, is examining the relationship between inflation and unemployment. Bernanke called on researchers to further investigate the dynamics of commodity prices, labor costs, and inflation, and ways to get more precise data, to help central bankers develop more effective polices."
You wonder, how can these SMART GUYS from the BEST SCHOOLS can FUCK UP SO BAD, huh?
Unless it ISN'T a FUCK-UP and is PART of the PLAN!!!!
It's called "DEMAND DESTRUCTION" and it is MEANT to DESTROY the WORLD ECONOMY!!!
I know you get sick of hearing it from me, but it is a GLOBALIST PLAN -- NO ACCIDENT!!!
But if you just relied on the MSM papers, well... you wouldn't know shit, would you?
You would just be eating it.
