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Guess who thinks we do? Our illustrious FED Chairman Ben Bernanke does. http://www.financialpost.com/news/More+easing+needed+Bernanke/3676497/story.html (broken link) Our illustrious President Obama COULD have appointed someone else for Fed Chairman but he chose to keep Bernanke which reflects poorly on Obama as it shows how ignorant he is on economic matters as well.
I don't have to explain that more inflation of course means that everything you and I spend our money on will cost more and more while our incomes stay the same.
Please explain to me how ANY national leader could POSSIBLY think in their right mind that manipulating the money supply (as Ben Bernanke is doing with quantitative easing or printing more money which devalues our currency, the dollar) and forcing us to spend more and more for just the basics can possibly be good for us?????
In case you haven't been following it, here is Ben Bernanke's track record. For years he consitently has made the wrong decisions about the economy and it is getting obvious to foreigners (if not to us) that he is messing up our economy. How to Kickstart the Economy
I for one will not be voting for ANY mainstream Republicans or Democrats for ANY office. The MUST be fiscally responsible and be willing to stand on their own two feet; do what is right for their constituents and not be beholden to campaign contributors.
jimmy carter thought inflation would be good for the economy also, but as we know it didnt work then and it wont work now. that said however, we are likely going to have to go through a period of inflation because the prime lending rate is far too low right now, and it needs to come up to about 6%. it will be a tough time indeed, but like dealing with a lot of other economic issues we have now, we need to go through the pain and clear out the garbage before things will really start to get better.
Because deflation is becoming a larger threat than inflation. The economic collapse destroyed billions of dollars which the Fed is trying to replace. Ask anyone trying to sell property. Social Security recipients were denied a cost of living increase, the Post Office a rate hike. After the economy recovers, inflation may become a problem and it will be time to tighten.
Deflation becoming a larger threat is hogwash! If prices went down and the dollar would buy more that would be GOOD for the country not bad. The reason Bernanke is creating inflating by printing more money is theoretically so our ever increasing debt can be paid to our creditors with worthless paper! But we get the short end of the stick because everytime more money is printed the purchasing power of the dollar is watered down!
I hope people understand this and vote accordingly (for people who do NOT think Bernanke is doing a good job and for people who were NOT in favor of the bailouts).
History tells us if you study "The Forgotten Depression of 1920" which was actually worse than the one in 1929 based on the statistics...ie unemployment etc.... that the EFFECTIVE way to solve a depression or bad recession is to REDUCE the size of Govt - NOT increase it as we have been doing. Cut back on regulations NOT increase them as Obama has been doing. CUT TAXES ACROSS THE BOARD NOT INCREASE them and last but not least LET BUSINESSES FAIL. NO BAILOUTS!
Here is a great lecture from Lew Rockwell, an expert on Austrian Economics of the Mises Institute who explains
how Washington SHOULD be handling our economy .
Deflation becoming a larger threat is hogwash! If prices went down and the dollar would buy more that would be GOOD for the country not bad. The reason Bernanke is creating inflating by printing more money is theoretically so our ever increasing debt can be paid to our creditors with worthless paper!
deflation is not a good thing, in fact it can be worse than inflation. what happens is that with deflation, people tend to wait until the price goes low, then they buy, that slows production. to avoid that, businesses try to set a bottom line price, and artificially stop deflation. but that ends up causing more problems than it fixes.
I don't have to explain that more inflation of course means that everything you and I spend our money on will cost more and more while our incomes stay the same.[/quote}
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New Ways Walmart takes advantage....
