If that’s true, the Fed is clearly saying “we don’t give a damn about inflation,” or else, “we don’t have a fricking clue how to control inflation.”
In either case, a rate
A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
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March 07, 2008
Get ready for gas prices to soar and $1,000 gold
In light of today’s spate of bad economic news, the Street’s guessing game is that the Fed will cut the disoount rate as much as three-quarter percent at its March 18 meeting or even sooner.
If that’s true, the Fed is clearly saying “we don’t give a damn about inflation,” or else, “we don’t have a fricking clue how to control inflation.”
In either case, a ratecuthack like that is guaranteed to fuel inflation. Even with a recession, I predict oil prices will hit $115/bbl and gold $1,000/ounce by Memorial Day.
If that’s true, the Fed is clearly saying “we don’t give a damn about inflation,” or else, “we don’t have a fricking clue how to control inflation.”
In either case, a rate
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