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by
Chris Martenson
In justifying the massive money printing operations of the Fed, Bernanke used inflation data to bolster his case that the Fed’s actions are both prudent and worth continuing.
Here’s what he said:
Recent data show consumer price inflation continuing to trend downward. For the 12 months ending in November, prices for personal consumption expenditures rose 1.0 percent, and inflation excluding the relatively volatile food and energy components–which tends to be a better gauge of underlying inflation trends–was only 0.8 percent, down from 1.7 percent a year earlier and from about 2-1/2 percent in 2007, the year before the recession began.
(Source)
Why I Don’t Trust the Official Inflation Numbers (and Neither Should You)
PREVIEW by Chris MartensonIn justifying the massive money printing operations of the Fed, Bernanke used inflation data to bolster his case that the Fed’s actions are both prudent and worth continuing.
Here’s what he said:
Recent data show consumer price inflation continuing to trend downward. For the 12 months ending in November, prices for personal consumption expenditures rose 1.0 percent, and inflation excluding the relatively volatile food and energy components–which tends to be a better gauge of underlying inflation trends–was only 0.8 percent, down from 1.7 percent a year earlier and from about 2-1/2 percent in 2007, the year before the recession began.
(Source)
by
Chris Martenson
The US federal government is barreling towards a certain fiscal train wreck. While there is much being gleefully reported about the return of the shoppers…er, consumers…uh, patriotic citizens…spending more than they have, there is almost no hope of growth returning fast enough to offset the amount of budgetary deterioration that now seems to be baked into the cake.
As always, one component of the problem is that the US political leadership has absolutely zero experience with controlling spending, let alone cutting spending. Where austerity is being attempted in Europe (at great pain, too…if you have not seen this video of the recent Greek riots, it is both remarkable and disturbing) the current civil unrest shows that citizens don’t necessarily dutifully accept their politicians’ belt-tightening policies.
The plan, such as it is, for the US fiscal and monetary authorities seems to be to keep up the government spending (including the Fed’s QE efforts) for as long as necessary until self-sustaining growth returns.
The Federal Budget Deficit and the Looming Crisis
PREVIEW by Chris MartensonThe US federal government is barreling towards a certain fiscal train wreck. While there is much being gleefully reported about the return of the shoppers…er, consumers…uh, patriotic citizens…spending more than they have, there is almost no hope of growth returning fast enough to offset the amount of budgetary deterioration that now seems to be baked into the cake.
As always, one component of the problem is that the US political leadership has absolutely zero experience with controlling spending, let alone cutting spending. Where austerity is being attempted in Europe (at great pain, too…if you have not seen this video of the recent Greek riots, it is both remarkable and disturbing) the current civil unrest shows that citizens don’t necessarily dutifully accept their politicians’ belt-tightening policies.
The plan, such as it is, for the US fiscal and monetary authorities seems to be to keep up the government spending (including the Fed’s QE efforts) for as long as necessary until self-sustaining growth returns.
by
Chris Martenson
"Straight Talk" features thinking from notable minds that the PeakProsperity.com audience has indicated it wants to learn more about. Readers submit the questions they want addressed and our guests take their best crack at answering. The comments and opinions expressed by our guests are their own.
This week's Straight Talk contributor is Tyler Durden, founder and chief demagogue of the popular econoblog Zero Hedge. Zero Hedge's mission is to bring back a more critical, rigorous, and informed style of commentary and synthesis for the professional investing public. The blog has experienced explosive growth in it's two-year existence, due in part to its prolific coverage of financial events as well as its unapologetic (some say controversial) editorial approach, which is often highly critical of today's economic and political leaders.
p.p1 {margin: 0.0px 0.0px 6.0px 0.0px; font: 13.0px Verdana}
1. What led you to start Zero Hedge? Was there a particular story or moment? For many of our readers, you have become the CNN of the Great Collapse (this is seen as a positive thing). Is this what you set out to be?
Zero Hedge was started two years ago in the aftermath of the Great Financial Crash, as coined by Bill Buckler, when we realized there is a substantial vacuum in information distribution, and to a lesser extent, processing. The financial media world was (and to a great extent still is) dominated by journalists who were learning finance on the job and thus were incapable of putting the dots together on most stories under investigation.
Straight Talk with Tyler Durden: The U.S. Is Free-Falling Into Bankruptcy
by Chris Martenson"Straight Talk" features thinking from notable minds that the PeakProsperity.com audience has indicated it wants to learn more about. Readers submit the questions they want addressed and our guests take their best crack at answering. The comments and opinions expressed by our guests are their own.
This week's Straight Talk contributor is Tyler Durden, founder and chief demagogue of the popular econoblog Zero Hedge. Zero Hedge's mission is to bring back a more critical, rigorous, and informed style of commentary and synthesis for the professional investing public. The blog has experienced explosive growth in it's two-year existence, due in part to its prolific coverage of financial events as well as its unapologetic (some say controversial) editorial approach, which is often highly critical of today's economic and political leaders.
p.p1 {margin: 0.0px 0.0px 6.0px 0.0px; font: 13.0px Verdana}
1. What led you to start Zero Hedge? Was there a particular story or moment? For many of our readers, you have become the CNN of the Great Collapse (this is seen as a positive thing). Is this what you set out to be?
Zero Hedge was started two years ago in the aftermath of the Great Financial Crash, as coined by Bill Buckler, when we realized there is a substantial vacuum in information distribution, and to a lesser extent, processing. The financial media world was (and to a great extent still is) dominated by journalists who were learning finance on the job and thus were incapable of putting the dots together on most stories under investigation.
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