UPDATE: Ed Morrissey at Hotair plays cheerleader for the economy because today the stock market ended up 400 points. What he neglects to mention is that it is the *volatility* of the market that is indicative of the mess we are in. A movement in the stock market of 1 percent used to be considered normal, but these swings of 3-4 percent are symptoms of deeper problems. So don't be surprised to see more massive swings, both up and down in the coming days, weeks and months.
The other thing that Ed fails to mention is the inflation or loss of purchasing power of the dollar that Greenspan, Bernanke and our government has engineered. Sure, inflation is only 3 percent if you take the "core" inflation number that the government is running up the flagpole. So if you don't drive your car, don't use electricity and don't eat food, then yes, prices will go up more slowly for you. However, if you use gasoline, lights, or have meals, then you are looking at inflation as high as 13-14 percent.
Ron Paul was on Glenn Beck tonight talking about the Federal Reserve and in light of the proposals to increase the power of the Central Bank it's good to see that at least some media outlets are questioning the wisdom of that idea. Lord knows you won't see this from the Pajamas Media Right.
Click here to see the whole thing and below starts where Beck talks about the Federal Reserve:
Pilfered, as pretty much most of my Ron Paul interviews are pilfered from, the Liberty Maven
1 comment:
I love how the "core" inflation rate doesn't take into account core products. That completely typifies government efficiency. Double-speak, anyone?
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