Bernanke Says Don't Fret, Commodity Driven Inflation Will Pass

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His words are hollow, just as they have been for a long time. I often wonder if these guys are getting something out the nation sucking itself into the drain like we are.

 

Ay, ay, ay! the perks, benefits, and investments these guys get and make is absurd! They way the behave, we know they don't do it to serve their country!

 

I figured Obama wouldn't run for election again. Hopefully, people will have the common sense not to put his ass in office again. Whatever happened to "once bitten, twice shy"?

 

I still don't know whether Bernanke actually believes what he says or if it's purely for our benefit, but I don't know how you can look at the evidence and believe that inflation will pass:

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It looks to me like we are on an inevitable course at this point. Gasoline needs to reach $5 or $6 per gallon within the near-term (like this summer) just to catch up with the monetary base recently expanded by QE2. And if they (most likely) announce QE3 come June, then it's unfathomable where that will take things.

 

It would help a lot if the Government schaissenköpfe would allow the Alaskan pipeline to distribute oil to civilians. AFAIK it's only used for military purposes - meaning the military stays mobilized while we pay $4+ per gallon within the very near future.

 

It's only a quarter shy of reaching $4 here. I'm positive it will surpass that mark. I believe, or more hoping I guess, that it stops before it gets to the $5 mark.

 

inflation might slow down, but it will never stop. The way the banks are in US, no.

 

It seems to me from the previously posted chart, that in order to catch up with monetary expansion, gasoline should be at $6 already. The only difference between gasoline and gold is that gas is more subject to demand destruction at higher prices. We can manage to do without extra trips to the mall, and this keeps a headwind on gasoline prices. At least until wages catch up or the "non-essential" driving has been entirely cut already. A certain amount of usage (e.g. driving to work) is not discretionary.

 

Sure sure.
The banking system as they are right now, The inflation might slow down if we're lucky, but I seriously doubt it will 'pass'.

 

Too many ignorant Americans... I'm scared... All those on welfare illegitimately are sheep, as well as anyone who believes he is doing a good job... My personal opinion, but he REALLY pisses me off...

 

Gas hit $4 dollars a long time ago in this part of california. It will be $5 here soon.

 

About 3 weeks ago was the first time I ever spent more than $40 to fill up my Honda Accord. Yesterday, I hit a new all-time high with $50 a tank. My gas bill has almost doubled since this whole "Libya is in chaos so it will give us a good reason to raise gas prices" crap.

 

We always feel about gas prices, because we constantly need it and the price is stated everywhere you go.
But it seems like it's not that. The grocery price has been slowly rising also. I had to pay ~3 dollars for one tomato at a local stater bros!

 

your also not getting as much as you were despite the increase... 12 oz cans went down an ounce or two... so in reality you pay even more...

 

really? how can they do that? it's supposed to be 12oz can!

 

Same way the standard coke bottle went from 20oz to 16.9 oz. They still offer the larger one, for a higher cost, but market the smaller one as their main product now.