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EScroogeJr (< 20)

new inflationary measures by Bush and Bernanke

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January 28, 2008 – Comments (0)

So let's see: inflation hits 4.1% in 2007 after a 5.3% increase in M2 supply the previous year. Now increase M2 by 5.8% in 2007, combine that with anemic GDP growth, let higher grain prices work their way into meat and dairy products, let $3 gasoline percolate through the economy, and don't we get a 6% inflation in 2008? Now add in all these countless new loans to troubled banks, spruce that with $150 bln that Bush's bancrupt government does not not have and that must come from Bernanke's printing press, and will not 7% inflation projections look conservative? 

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