Greenspan: Need To Cut Fed Balancesheet To Prevent Inflation...
Submitted by RonPaulSwede on Mon, 09/07/2009 - 10:23
MUMBAI -(Dow Jones)- The U.S. economy may witness double-digit inflation in a few years if the Federal Reserve doesn't unwind its monetary expansion going ahead, former Chairman Alan Greenspan said Monday.
"Unless we roll in this whole degree of expansion, we will be in trouble. I am not talking 3%-5% inflation, I am talking double-digit inflation in the U.S.," Greenspan told a conference in Mumbai via video conference.
He added that the global rate of inflation, excluding food and energy prices, will continue to go down through this year and into next year.
-By Harsh Joshi and Nupur Acharya, Dow Jones Newswires; 91 22 61456113; djn.in@dowjones.com
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?stor...
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"the global rate of
"the global rate of inflation, excluding food and energy prices, will continue to go down"
In other words, the cost of essentials will continue to skyrocket, while wages fail to go up. We had all better be buying blankets and smaller belts.
Pat
BOHICA!!
Pat
BOHICA!!
bump for further
discussion.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Well it is QUITE OBVIOUS
Well it is QUITE OBVIOUS that if the FED is not buying back notes instead of printing them at this time, when money cannot be given away, there is definatly a "waiting" by the Banks to invest & a "buy up America cheap", type of deal going on ...This can be the ONLY explanation for their blatent activity of slush funding the Banks, while the Banks are not making loans..If the FED truely cared about it's currency & value it would actually destroy notes that are not circulating ..This of course would make the poor persons' value increase, which it seems they do not want ..For what reason could this policy be in activation ? Keep the wealth where they want it ?.
Stifle the economy for some crazy reason.?.When there is NO demand for their notes, but they flood the Banks with funds there is something afoot. That's my opinion.
Demand is the only vtrue honest form of stimulation ..The rest is bogus..
No demand no stimulous..People are tired of being jerked around not to mention retired & want easy investment. The true back bone of America is growing tired of carrying the burden after being stifled all these years by greedy hogs..
Good people do Good deeds
and are no respecter of person
Petrifying
And who said fossils can't talk?
"excluding food and energy prices"
because those are luxury items.
"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul