Why Obama's Hands Are Tied
In 1972, Pres. Nixon used a trick to get elected - he used price controls. While this caused a host of problems, the public loved him because it made him look like someone who cared about the common man. He did this because inflation was staying above 4% annually in 1971.
This trick could virtually guarantee Obama's Reelection today. Imagine fixing gas prices at $3.35/gal - the people would love him and blame the big oil companies for the long gas lines that will be sure to follow.
But the government lies have weaved a web that have tied Obama's hands. By continuing to insist that inflation is tame (even though it is exceeding 8% based on measurements used in the 1970's) Obama can not use price controls. That would be an acknowledgement that inflation is high, and the Keynesian easy money policy would come under attack.
So Obama has to put his re-election into the hands of Ben Bernanke. That he can somehow boost the economy, bring down unemployment and keep inflation from getting even further out of hand. If I was in Vegas, I'd bet heavily against that from happening.