Mr. and Mrs. Obama Betting Their Money on Inflation
Mr. and Mrs. Obama fear inflation when they make their personal investments. Their investments concentrate on short-term Treasury debt, shunning the higher interest rates of long-term Treasury bonds, which carry the higher risk of inflation.
by Roger Hedgecock at Human Events
If you buy gas or food or Huggies diapers you know that prices are up, while jobs are scarce and average wages are down.
Fed Chairman Ben Bernanke says inflationary pressures are “transitory.” He vows to print as much money as it takes to absorb the tsunami of federal debt, keep interest rates low, prop up the too-big-to-fail banks, and hope the result is more lending, more jobs and a revived housing market in time to reelect President Obama in November 2012
Although Geithner admitted that the fiscal policy of the Obama government is “unsustainable in the long run,” he predicted that the jobless rate would fall to less than 8% this year and that the economy would grow by 3.5% to 4%. Lately, the Federal Reserve has scaled back that prediction to a growth rate of 3.1% to 3.4% and the unemployment rate has gone back up to 9%.
Both Republicans and Democrats tell us that adding more debt is the “adult” thing to do. The ruling elites want us to believe that when all the credit cards are maxed out, the solution is to get another credit card.
Geithner wails that the sky will fall if Congress cannot spend trillions of dollars more than we have.
Both Republicans and Democrats tell us that adding more debt is the “adult” thing to do. The ruling elites want us to believe that when all the credit cards are maxed out, the solution is to get another credit card.
In other words, Mr. and Mrs. Obama fear inflation when they make their personal investments. Their investments concentrate on short-term Treasury debt, shunning the higher interest rates of long-term Treasury bonds, which carry the higher risk of inflation.
Actions speak louder than words. Remember that the next time members of this administration seek to convince you that their reckless economic policies are good for this country.
FULL ARTICLE
Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere:
