Producer Price Inflation Higher On Spiking Food And Energy

October 12, 2012 By Leave a Comment

gas pump Producer Price Inflation Higher On Spiking Food And Energy

In a country in which nobody eats or drives any more, the Fed construct known as September core PPI came in 0.0%, on expectations of a 0.2% increase. Of course, for those lucky few who still eat, or drive, or in rare cases eat and drive, saw Producer Prices rise by 1.1% on expectations of a 0.8% increase, which despite dropping from August’s 1.7%, this was still the second highest monthly increase in the past year. Also, for those few who actually care about such trivia as food and energy prices, this was the 4th month in a row of higher than expected headline PPI. Luckily, in America, eating has now been hedonically adjusted to the functional equivalent of playing Apple’s bestselling $0.99 iFood app.

 Read More at zerohedge.com . By Tyler Durden.

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Bernanke, the Wizard Behind Obama’s Sham Economy

August 9, 2011 By 8 Comments

Dr. Mark W. Hendrickson

On July 11, The Center for Vision & Values posted my article decrying the insulting name-calling directed toward Federal Reserve Board Chairman Ben Bernanke. The very next day, Bernanke made me question my forbearance by telling Congress that a third round of “quantitative easing,” or “QE3,” could be a near-term option.

Now it’s my turn to call Bernanke a name, but I’ll use a clinical label, not a crude one. He is an inflationist, although he may prefer the label “anti-deflationist.” He so fears a deflationary spiral that he will create however many dollars he believes necessary to avert deflation.

Bernanke’s repeated attempts to patch over the nation’s economic weakness, rottenness, and dead wood with newly created dollars remind me of the “Potemkin village” ruse. The Soviet communists duped foreign visitors into thinking that communism was a viable and prosperous system by steering them to sham factories, stores, villages, etc., which appeared to be productive, bustling, and attractive. In reality, Potemkin villages were like movie sets, built to disguise the widespread poverty and backwardness that characterized life in the “workers’ paradise.”

Official statistics insist that the Great Recession ended two years ago. Yet unemployment is creeping up, record numbers of workers are remaining unemployed for record lengths of time, income is down for small proprietors, and millions of people feel as though the recession never ended.

It is proverbial that statistics lie. One such statistic is the gross domestic product….

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Hilarious Music Video: “Raise the Debt Ceiling” Rap

August 1, 2011 By 28 Comments

Even non-fans of rap (like me) will enjoy this musical look at the hottest debate in Washington. It’s good to have a laugh on the road to serfdom. And since this video was produced by the people at Reason TV, there is little chance it will incur legal harassment from speech-chilling PC fascists, the way the “Johnny Cashless” video we posted did. Enjoy!

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Could You Survive Another Great Depression?

July 25, 2011 By 5 Comments

Dr. Paul Kengor, FloydReports.com

I just read two very interesting articles on the U.S. economy, written from historical perspectives. They compelled me to share my own historical perspective. And what I want to say is more about our changing culture than our economy.

One of the articles, by Julie Crawshaw of MoneyNews.com, notes that the “Misery Index”—the combined unemployment and inflation rates—made infamous under President Jimmy Carter, has hit a 28-year high. It’s also 62 percent higher than when President Obama took office.

But that’s nothing compared to Mort Zuckerman’s article in U.S. News & World Report. Zuckerman measures the current situation against the Great Depression. He writes:

The Great Recession has now earned the dubious right of being compared to the Great Depression. In the face of the most stimulative fiscal and monetary policies in our history, we have experienced the loss of over 7 million jobs, wiping out every job gained since the year 2000. From the moment the Obama administration came into office, there have been no net increases in full-time jobs, only in part-time jobs. This is contrary to all previous recessions. Employers are not recalling the workers they laid off…. We now have more idle men and women than at any time since the Great Depression.

Zuckerman is a perceptive writer who looks at economies from a historical perspective. In my comparative politics course at Grove City College, I use his article on the Russian collapse in the 1990s, which Zuckerman showed was worse than our Great Depression.

I can’t say we’re teetering on that precipice, but Zuckerman’s article got me thinking: Imagine if America today experienced an economic catastrophe similar to the 1930s. How would you survive?

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Gold Isn’t Money? Say What?

July 15, 2011 By 14 Comments

Floyd and Mary Beth Brown, FloydReports.com

Gold isn’t money? How could America get to this point we asked in astonishment upon hearing the Chairman of the Federal Reserve proclaim, “Gold isn’t Money.”

No wonder our leaders in Washington misspend our money. They don’t even understand what it is.

For those of you without a dictionary nearby, let’s start with the Webster’s definition, which says money is “something generally accepted as a medium of exchange, a measure of value, or a means of payment.”

The Webster’s definition even though inadequate still captures the essence. Money is a store of value that was created to facilitate barter or trade. It was a store of value because a farmer would accept it in exchange for his potatoes today, and next week he could spend an equivalent value to buy a pair of overalls.

If anyone reading this column doesn’t believe that gold is a good store of value, we will happily exchange your gold for some of Ben Bernanke’s Federal Reserve Notes. And that is exactly what owners of Federal Reserve Notes have been doing the world over. As a result, since 2001 the cost of Gold in Federal Reserve Notes has exploded from 300 notes per ounce of Gold to 1500 notes per ounce of Gold. That is a five times increase in ten years.

This is a signal that people, businesses and governments now believe that the ounce of Gold is greatly preferred as a store of value to Federal Reserve Notes.

But the people’s preference for Gold and Silver over pieces of paper with a printed promise is, as Rep. Ron Paul told Ben Bernanke in the same hearing, “at least 5,000 years old.”

Money is…

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