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View Diary: Wherein "Bernanke Cuts Geithner Off at the Knees" (161 comments)

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  •  Enjoy $4 a gallon gas (4+ / 0-)
    Recommended by:
    taonow, pollwatcher, bigchin, bobswern

    Because that is the only tangible economic effect that $600 billion in purchases will have.  

    •  Crude oil hit $147 in 2007 (3+ / 0-)
      Recommended by:
      Ed in Montana, JanL, KJG52

      now its $85.

      Natural gas is at 10 year lows.  Capacity in labor and plant space are at lows.  Engineering in the US costs less than ever.

      10-yr T-Bills yield only 2.5%.

      Don't try to throw some Beck inflation talk on me - I know better.

      "The way to see by faith is to shut the eye of reason." - Thomas Paine

      by shrike on Sun Nov 07, 2010 at 12:04:21 AM PDT

      [ Parent ]

      •  But natural gas is projected to rise within 18 mo (2+ / 0-)
        Recommended by:
        Alumbrados, pkbarbiedoll

        and never look back.

        <div style="color: #a00000;"> Our... constitutional heritage rebels at the thought of giving government the power to control men's minds. Thurgood Marshal

        by bronte17 on Sun Nov 07, 2010 at 07:40:15 AM PST

        [ Parent ]

      •  Uhm (1+ / 0-)
        Recommended by:

        and gold is at $1400, silver at $26+, Copper at $4, wheat and corn moving up too. Then look at wages in China!

        Inflation is coming, but it will be different this time. There will be inflation in the stuff you need (food, fuel) and not in the stuff you don't. Wages too will not go up.

        What the Fed is doing is managing a behind the scenes drop in the US standard of living. The US has been living beyond its means for 30 years and has been unwilling to adjust. Now the adjustment is coming.

        "If they can't deal with the Internet, they should shut it off." Mike Lazaridis of RIM

        by taonow on Sun Nov 07, 2010 at 08:33:26 AM PST

        [ Parent ]

    •  It will lower the dollar (0+ / 0-)

      which is a good thing.

      The bitter truth of deep inequality has been disguised by an era of cheap imported goods and the anyone-can-make-it celebrity myth - Polly Toynbee

      by fladem on Sun Nov 07, 2010 at 03:01:59 AM PST

      [ Parent ]

    •  Which will be good for US. Less gas used. (0+ / 0-)

      Raising the price per gallon of gasoline and oil is key to US cutting its inefficient (50% less energy efficient than Europe) use of oil which leads to $400B per year oil trade deficit, $1T per year oil wars and climate change.

      Nothing will help move US toward a better future than increasing the cost of oil/gasoline.

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