Definition Of Inflation....
"An increase in the amount of currency in circulation, resulting in a relatively sharp and sudden fall in its value and rise in prices: it may be caused by an increase in the volume of paper money issued or of gold mined, or a relative increase in expenditures as when the supply of goods fails to meet the demand.It's safe to say that inflation is alive and well today. In fact, it's thriving.
We have seen this "definition" morph into "the rise in CPI and PPI". Chairman Bernanke has a PHD, doctorate or whatever in economics. He knows by heart what inflation is. He knows exactly how much money has been pumped into the system during the Greenspan years and during his term. He knows that "CPI" is not inflation. He knows the CPI #s have been massaged, distorted, and mauled to mislead the public into believing inflation is not a problem. The public knows inflation is a problem! What the public doesn't know is that money supply has exploded for several years now. All the public knows is that everything costs more today than yesterday.
For Chairman Bernanke to have had his hands on the money supply lever, crank it full blast, and tell Congress that inflation is not a problem is a crime! In fact, it is perjury in real life. Earlier this month CNBC pondered whether Roger Clemens or his trainer would be brought up on perjury charges for lying about steroid use. I ponder whether the Chairman will be brought on perjury charges for steroid use...on the economy! It is so disingenuous for Chairman Bernanke to absolutely know the correct definition of inflation, control the money supply, know that the money supply has been jammed as hard as they could, then smile while testifying to Congress and LIE! The government has exploded the money supply and hoped that no one would notice the results. Well, people have noticed!
I wrote close to a year ago about the worst of all worlds. This is now in fact happening. The things we need and use everyday are hyper inflating, while the things we have, or have borrowed against are imploding in value. I don't have a fancy name for this type of event. How about if we just call it a "TRAIN WRECK", LOL.
Lastly, President held a presser today to talk about the FISA Bill, the economy and various other things. He actually had the temerity to say that "he believes in a strong dollar policy". I had a good belly laugh over that one.