Do they send central bankers to a special school where they learn to lie without blinking an eye? Food prices are skyrocketing. Natural gas prices are skyrocketing. Oil prices are skyrocketing. Healthcare costs are skyrocketing. Tuition is skyrocketing. Rents are at all-time highs. At least wages are falling, so we got that going for us.
This lying bitch has the balls to stand in front of the American people and declare that inflation is evolving in line with her expectations. What a load of horseshit. Inflation is now running at 6% on an annual basis and over 8% in the last two months. The fucking stock market soars to new highs based on the lies of this bitch. What a warped fucked up country we live in.
Those Soaring Food And Gas Prices? The Fed Has A Name For Them: “Noise”
Submitted by Tyler Durden on 06/18/2014 15:30 -0400
This looks like a trend to us…
But no – The Fed says its transitory and exactly what they expected…
LIESMAN:
There’s every reason to expect, Madam Chair, that the PCE inflation rate, which is followed by the Fed, looks likely to exceed your 2016 consensus forecast next week. Does this suggest that the Federal Reserve is behind the curve on inflation? And what tolerance is there for higher inflation at the Federal Reserve? And if it’s above the 2 percent target, then how is that not kind of blowing through a target the same way you blew through the 6.5 percent unemployment target, in that they become these soft targets? Thanks.
YELLEN:
So I think recent readings on, for example, the CPI index have been a bit on the high side, but I think it’s — the data that we’re seeing is noisy. [ZH: What noise?]
I think it’s important to remember that, broadly speaking, inflation is evolving in line with the committee’s expectations.
The committee has expected a gradual return in inflation toward its 2 percent objective. [ZH – It’s already there!!!!!] And I think the recent evidence we have seen, abstracting from the noise, suggests that we are moving back gradually over time toward our 2 percent objective and I see things roughly in line with where we expected inflation to be.
I think if you look at the SEP projections that were submitted this time, you see very little change in inflation projections of the committee. [ZH: Because you are all ignorant!!]
Still believe The Fed has inflation all under control?
“Every time hyperinflation rips through an economy, the middle class gets completely wiped out. It is very alarming to watch the purchasing power of an entire life savings reduced to that of a few pennies. Those savings represent years of real labor, real time, effort and sacrifice exchanged for corruptible pieces of paper that politicians and bankers can destroy at whim.”
Ron Paul
“Noise???” Fuckin Joo cunt.
Q: What’s the difference between Janet Yellen and a baked potato?
A: Potatoes don’t make noise when you burn them in the oven.
Natural gas
Unleaded Gas
Pork
Beef
Cocoa
Coffee
Cotton
Sugar
Then I guess, Admin, she was expecting 6-8% inflation.
What’s the problem?
/sarc
p.s. it’s not a lie if you believe it 😉
Liesman is a stupid fucking cunt, the “debt created our prosperity” Fed-loving ass-licking faggot. It’s unbelievable Yellen can get away with this shit. There is no sanity left anymore. The Fed is out of control, Obama is out of control; we’re going to have a day of reckoning before too long, folks. Inflation can’t be controlled by the Fed, can’t be controlled once it’s unleashed, and the it’s a miracle we’re not in hyperinflation already. The Fed didn’t see the 2007/2008 collapse coming, the one they created, and they’ll be lying that everything is fine up until it collapses again, only worse this time. Unless these people are stopped, nothing is going to change.
Admin
Nice fuckin job with all those charts. No, really, nice fuckin job trying to kill me.
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Admin
You’re a total pessimist. The price of copper has softened considerably over the past year. I love the smell of toasted copper in the morning.
Reversion to the mean is going to be a bitch the next time around, and these corrections rarely get to the mean and stop, they overshoot. The country’s assets are going to go at firesale prices one day soon.
“When the people of any particular country have such confidence in the fortune, probity, and prudence of a particular banker, as to believe that he is always ready to pay upon demand such of his promissory notes as are likely to be at any time presented to him; those notes come to have the same currency as gold and silver money, from the confidence that such money can at any time be had for them…
The commerce and industry of the country, however, it must be acknowledged, though they may be somewhat augmented, cannot be altogether so secure, when they are thus, as it were, suspended upon the Daedalian wings of paper money, as when they travel about upon the solid ground of gold and silver.”
Adam Smith, Wealth of Nations
Word is spreading
…….
http://confoundedinterest.wordpress.com/2014/06/18/fed-says-economy-rebounding-as-it-trims-bond-purchases-yellen-denies-asset-bubbles/
60 inch 1080p flatscreens at wal mart for under 400 bucks now
and tasty too, if you cant afford to eat nothing but ipads
I had to down vote those charts. Even though they are eye opening, I hate inflation, bankers, and politicians.
What is it about the name ‘janet’, and for that matter ‘joan’, that makes it necessary for them to be habitual liars? (among other nasty traits)
@ SSS:
I’ve got a bunch of scrap copper and some other misc aluminum and some other stuff I’ve scrounged up on the jobsite over the past year.
I looked at scrap copper prices yesterday, thinking about taking it in to cash in, and was totally dismayed to see that it was less than $2 per pound.
I guess I’m going to just keep it stored in my barn until the salvage price goes back up a little.