As an outside observer who actually works for a living, though, this is how I interpret what QE2 actually is.
QE2=print more money=trouble
We went from $850 billion in circulation to FIVE TRILLION DOLLARS in circulation? Are you kidding me?
Then Bernanke has a press conference yesterday and says this, from the Guardian:
After all, the Fed can't create more oil. We don't control the growth rates of emerging market economies. What we can do is basically try to keep higher gas prices from passing into other prices and wages throughout the economy and creating a broader inflation which will be much more difficult to extinguish.Again.
Are you kidding me?
How can you, the Bernank, keep gas prices from passing into other prices and wages?
Let's see.
Availability of gas influences travel.
Travel influences vacations, food that comes into our houses, transportation of goods from one place to another....
Doesn't that just about cover everything that significantly affects our lives?
Flying, driving, vacations, what we eat, driving to work, how much we can buy.
Again, as an outside observer, it seems like Bernanke is stating something absolutely absurd.
How can HE influence gas not influencing price increases due to transportation costs?
And these people are in charge of our government?
Then over at AP/Yahoo, we're treated to the information that Obama is calling for more oil production from the Middle East.
That is, more dependence on foreign oil.
So let me get THIS straight.
We're not allowed to pump oil here because {----} and 7 rigs have pulled out of the Gulf to move to Brazil or somewhere but speaking of Brazil, the American taxpayer is paying for oil drilling in Brazil from which our only benefit will be that we'll be allowed to buy it.
But we're going to beg the Saudis to pump more oil, thus putting Obama into a subservient position again, bowing to the king.
Meanwhile Obama continues to call oil companies' tax breaks subsidies.
What's the difference? One is giving taxpayer money to a company and the other is saying, hey, you don't have to pay such and such because we need what you've got. (Or supposedly we need it for dumb stuff like ethanol.)
And these people are in charge.
But I repeat myself.
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On a side note, my eyes are still bleeding from having watched the video over at Weasel Zippers from a San Francisco Easter get together blaspheming the Christ. I wouldn't want to stand next to any of these people. Warning: some really, really bad nudity. Only watch if you have a strong stomach and are sure of your place in heaven.Well, off to the silliness of work, rather than a fund raiser or an appearance on Oprah.
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