Bernanke's stated objected for his reign at the Fed is to control inflation -- that's supposedly his number 1 top priority and that's the charge he's given the Fed presidents.
Why do I believe the Fed lies? Several reasons. First of all, our government has had a century long pattern of lying for various reasons.
Next, Bernanke has not minced his words when it comes to inflation, the value of the dollar, and the U.S. economy in general -- for example, the famed, "i'll fly in a helicopter over Europe and throw dollars down if I have to," and the famed, "we'll print more money" speech.
So, I do not put it past Bernanke to lie and manipulate the numbers anyway he has to to achieve a goal or objective. If Bernanke thinks that running the printing presses is the means to an end, I'm sure lying would also be a justifiable means to an end.
Next, Bush needs the general public to keep their minds off financial matters. His administration has wreaked havoc in the hearts and minds of Americans, and financial woes are the last thing he wants.
When people finally wake up and realize that their homes are devalued, their dollar is devalued, their prospects for getting a raise are dim, the price of their goods are rising, their huge personal debt load is looming, etc., it will stop Americans from spending and borrowing.
But, the Fed NEEDS Americans to keep spending and borrowing so they can fudge the numbers and make it somewhat believable. Bernanke is going to keep running the printing presses to offer cheap money to banks so they can offer cheap loans to stupid consumers.
Bottomline -- the time is quickly coming when the piper will have to be paid. The price of oil is going to rise soon. I don't see home sales making a substantial recovery in the near future. I see the stock market starting to form a bottom and it won't be long before it makes its decent downward.
We're bleeding money to pay for the Iraq debacle. Just wait till we war with Iran... you see, George Bush has to create an enemies and start wars to keep his style of government and his spending sprees in tact.
I think you get the idea of my thought patterns... Bernanke will regale us with more B.S. when he speaks today... just you wait...
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