Bernanke Fiddles While Rome Burns

As you read this, the Fed is printing up money as fast as the presses will go. As insane as that is, it is a fact. I have fumed against this absurd practice, since it was recently announced that Bernanke, leader of the dreaded Fed, the evil master of American ruin, would fight deflation.

So, let’s repeat that this very day, the federal reserve is fighting deflation. As I have tried to stress, fighting deflation is like bombing America. It is so destructive to our country that nothing could hurt us a lot worse. For details, you can read my Economics 301 post on this website or comment below.

OK, so how sensible does Bernanke’s latest theft of American property look? Here is the title of an article by Reuters, “Food costs at records, no let up on prices: FAO”. The FAO is a respected international independent organization that monitors worldwide food and commodity prices. They report that food prices are up for the seventh straight month. Yes, Bernanke is fighting deflation. Obviously, he doesn’t give a $hit about food prices, right?

“These high prices are likely to persist in the months to come,” FAO economist and grains expert Abdolreza Abbassian said in a statement.

World Bank President Robert Zoellick urged global leaders to “put food first” and wake up to the need to curb increased price volatility. “We are going to be facing a broader trend of increasing commodity prices, including food commodity prices,” he told Reuters in an interview.

OK, so let’s review why Bernanke is killing America with wild money printing. Economics is essentially the balancing of supply and demand to determine prices. How does printing money influence items in that equation? It increases demand, first. As you get more money, you are able to buy more; and statistics show that you will.

So, as you demand more goods and services, prices for those things go up. That is the story of the world in my lifetime. That should yield an increase in supply, since higher prices make it more profitable to grow food.

However, did you notice the revolution in Egypt? How about revolts in Tunisia and Jordan? Are you noticing the Australian cyclones? All these events are partial evidence of the tremendous pain that rising food prices have caused and are about to cause. Supply is actually decreasing, as world weather problems persist almost unabated anymore. That will cause further inflation, but Bernanke is fighting deflation. Do you really think that Bernanke is a stupid or ignorant? I don’t. I think he is a crook who is stealing from us all. Whatever we have, it is becoming worth less, or maybe worthless.

Oh, did you see that oil topped $100 a barrel again. Feb 3 (Reuters) – Stronger-than-expected demand from rebounding economies and concern over unrest in Arab countries have pushed oil prices above $100 a barrel, the International Energy Agency told the U.S. Congress on Thursday. Does that sound familiar? Yes, remember the tremendous inflation of 2007 and 2008 where oil was routinely over $4 a gallon. Well, that will occur again, this summer. That’s right. Bernanke is fighting deflation.

Somehow, the devastation America wreaks on the world with its irresponsible pork barrel spending is not comprehended by Americans. We are causing inflation of prices which kills lots of more people worldwide of starvation. Do you see that? If someone can barely afford to live on the amount of food they can buy, what does price inflation of that food do? It makes those people eat less, and they die.

Yes, the great benefactor, America, who funds trillions of dollars of aid to other countries is actually killing the poor, starving people of the world with its irresponsible behavior. When will we get that this is all just selfish manipulation by leaders of immense immorality. Audit, then abolish the Fed.

This was a condensed economics analysis of our country under the present administration. Please don’t read this, disagree and go away frustrated. If you disagree with me on this, just post your thoughts. I do not write these articles for my benefit. I majored in Economics at a strong economics university. I have carefully studied it for 40 years. I am confident in these assessments, but I would be happy to discuss this with anyone who reads it. That is why we chose a blog format for itmh.org. We welcome any views, whether agreeing or not.

httpv://www.youtube.com/watch?v=o8ZnCT14nRc

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