Chairman of the Fed, Ben Bernanke expects us to believe that our mind power controls the way inflation fluctuates. A recent article in the Freeman Online quoted Bernanke saying, “The state of inflation expectations [by the people] greatly influences actual inflation and thus the central bank’s ability to achieve price stability.”
The author of the article has it right when he suggests that Bernanke is…confused, to put it mildly. When the Federal Reserve schedules their FOMC meetings, when they make public statements, and when Bernanke graces us with a press conference it is the Fed that is guiding the path of inflation. They release vague statements about the economy’s improvement or lack thereof with an intent to guide Americans down a path of financial trust. Bernanke’s claim deflects responsibility and puts an unnecessary burden on the American people.
Unfortunately, those same American people too often guide their economic choices off the “experts” on TV. When September 11th happened, people looked to the administration for guidance, and what did they do? Bush II requested that American people keep spending their money and to “Get down to Disney World in Florida…Take your families and enjoy life, the way we want it to be enjoyed.” Keep reading at SilverUnderground.com.Published in