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Three Men and The Red Button
Perspective on the News
Tuesday, January 25, 2011
Ed DeShields

The belief that things may be worse than the government is willing to admit has become obvious to about everyone.

Is it because the government doesn’t believe they’re wrecking our kid’s future, or are they so trusting of the Keynesian economists that dominate their culture that somehow they’re able to defy the economic gravity of common sense?  What do they know we don’t?

If you shop you know prices are going up.  If you’ve pumped a gallon gas or visited the market to pick up a few things for dinner you’ve noticed your dollar just doesn’t go that far lately.

The value of our dollar is sinking and inflation is steadily lowering our standard of living.  If you examine the M3 money supply – which the government stopped reporting a few years ago – we’re probably at 10% inflation, or more.  Yet, our government says inflation is non-existent.  Why?

Could it be because our leadership is paralyzed and they’ve got to keep the bad news from getting out?   Do they fear it could kill the economy?  Probably.

To illustrate the disconnect, and its level of deception, consider that today’s headlines read the Republicans are taking credit for the phantom improvement in the economy since the election that the Democrats say they caused.  Are they kidding?   I’ll bet you a gallon of gas that neither has pumped gas nor shopped for themselves recently.

We can recall the moment President H.W. Bush’s was caught by the media marveling over the grocery store scanner.  That February 1992 photo opportunity doomed his re-election to the Presidency.  The scanner was introduced to the market in 1980, the year Mr. Bush had was elected Vice President 12 years earlier.  After 12 years of being out of touch with the society he served, he sadly could no longer relate to reality.

Has Nancy Pelosi, Harry Reid or the President pumped gas recently?  Probably not.  Mrs. Pelosi, you recall, couldn’t even rationalize the difference between her governmental Boeing 757 versus a smaller luxury jet for her travel home.  Why wasn’t a first class seat on American Airlines good enough?

Good grief.

The rest of the world believes in inflation because it’s metastasizing in countries everywhere.   The United States of America, and its flood of Fed printing, is responsible for it and the consequences that will arise because of it.

The Fed is again scheduled to turn on the printing presses again this week.  They intend to print between $24 and $32 billion and pump it into the economy pouring more fuel on the inflation fire.  That’s more money that the largest corporations earn annually; larger than General Motors, or Citigroup or General Electric except that these companies produce real jobs and economic value.  Our government is now in the business of manufacturing inflation.

The rest of the world is slamming on the brakes by raising interest rates to slow inflation.  Indonesia, China, Thailand, Chile, India, Brazil, South Korea, Vietnam, and the EU are taking strong and immediate moves to raise rates in hopes they can stop this madness before it gets away from them; and the rest of us.  When we finally have to raise rates in the U.S. (it will happen) we won’t have enough tax money left to operate the government.

All the time, in a non-descript building in New York, three government employees will be pressing the “sell Treasuries” button to keep the printing presses at full speed this week.

About Ed DeShields

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