TheState
05-02-2011, 06:14 PM
Amazingly, even with all the OBL news, the 3rd most popular article on Yahoo News is about inflation.
Even though the author respects Bernanke, there's an awful lot of truth in the article.
Sticker Shock (http://news.yahoo.com/s/dailybeast/20110502/ts_dailybeast/13790_niallfergusonthegreatinflationofthe2010s;_yl t=AgIPIIfL1eJcmeavmNt7nGas0NUE;_ylu=X3oDMTFpMjlyYW l2BHBvcwMyMwRzZWMDYWNjb3JkaW9uX21vc3RfcG9wdWxhcgRz bGsDc3RpY2tlcnNob2Nr)
Sensing a threat to his hopes of reelection, the president last week called on Congress to eliminate “unwarranted” tax breaks for oil companies and set up a Justice Department task force to investigate price gouging and fraud in the oil markets. Give me a break. The spike in gas prices is the result of Fed policy, which has increased the monetary base threefold in as many years, and a geopolitical crisis in the Middle East that the president and his advisers still haven’t gotten a handle on.
Even though the author respects Bernanke, there's an awful lot of truth in the article.
Sticker Shock (http://news.yahoo.com/s/dailybeast/20110502/ts_dailybeast/13790_niallfergusonthegreatinflationofthe2010s;_yl t=AgIPIIfL1eJcmeavmNt7nGas0NUE;_ylu=X3oDMTFpMjlyYW l2BHBvcwMyMwRzZWMDYWNjb3JkaW9uX21vc3RfcG9wdWxhcgRz bGsDc3RpY2tlcnNob2Nr)
Sensing a threat to his hopes of reelection, the president last week called on Congress to eliminate “unwarranted” tax breaks for oil companies and set up a Justice Department task force to investigate price gouging and fraud in the oil markets. Give me a break. The spike in gas prices is the result of Fed policy, which has increased the monetary base threefold in as many years, and a geopolitical crisis in the Middle East that the president and his advisers still haven’t gotten a handle on.