Bernanke Is A Economic Terrorist
Asked by a student if “skyrocketing” commodities prices may threaten his inflation outlook, Bernanke said rising commodities prices are “the one exception” to a broad reduction in inflationary pressures. Overall, excess slack in the economy will make it difficult for producers to push through higher prices to consumers, he said.
If your input costs rise....but you can't pass on the increased costs to customers....the only choice left you have is to lower your labor costs.....or go out of business...which is now happening to millions of businesses and tens of millions of workers around America.
However, if you are one of the select few chosen Wall Street Companies, you can keep losing money by simply continually borrowing from our pension funds and deplete the last remaining dollars from our retireees.....the public homebuilders are a perfect example.
Ben Bernanke yesterday admitted eliminating profits was a consquence of his policy..which I call Zombulation....effectively destroying the incomes of tens of millions of Americans and shutting down the profitability of business.
None of this was hard to see.....none of it was hard to forecast in a nation that is a service based economy that is highly leveraged and runs a massive trade defict where pratically no one benefits from rising commodity/input prices that can't be passed on to the customers.
Ben Bernanke's expertise was limited to the Great Depression...where we were a low debt and export based economy and rising commodity prices could actually helped drive rising wages.....but now, rising commodity prices destroy profitability and will drive much lower wages and accelerate business shut downs.
As more and more money is concentrated in food and fuel, less will be able to be spent anywhere else.....and since most businesses in America are ex food and fuel, more and more businesses will shut down......while the need to print will only increase driving down the value of our money further and making the above situation even worse......
Now we KNOW Ben Shalom Bernanke is intentionally destroying our economy by eliminating profits...........the question is what will we do about it?