Right in plain site, the Federal Reserve is doing this to the US money supply. It is a hockey stick with the blade pointing up, but will one day turn into a big, bloated chicken and come home to roost. The Fed’s global counterparts continue apace with inflation as well.
Meanwhile, economic data like M2′s velocity would give out of control monetarists free license to provide more of what they say is good for us, because newly printed money is not getting out into the economy to a sufficient degree. ‘If we can just inflate a little more’ think our myopic bureaucrats, ‘maybe that will finally do it. Continue reading "Macro Sleight of Hand is Working, for Now"
Gold futures fell to a six-month low after Federal Reserve Chairman Bernanke says the U.S. economy is recovering, easing pressure for more stimulus measures by the U.S. Government.
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