Commodity prices are a monetary phenomenon. The price of oil keeps going up. Yet Ben Bernanke still won’t do anything serious to strengthen the dollar. Again and again I and many others have been warning for month after month that “Stagflation could make its ugly face obvious as early as this summer.” Now it is just about here. And it’s the fault of the Fed and the Treasury, along with a political class that keeps approving huge spending while failing to ensure that current low tax rates will remain low. And now things are getting really awful. Since Ben Bernanke and the Fed refused last week to back up Bernanke’s “strong dollar” talk, from a few weeks earlier, with any actual discernible action, the stock market has tanked even further, horrendously so, while oil and gold have jumped even more. Bernanke is incompetent. Bush can’t fire him, but he should ask for the Fed Chief’s resignation, in favor of somebody who will actually protect the dollar.
Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link: https://spectatorworld.com/.
That’s right, the Grinch (Joe Biden) is coming for your pocketbooks this Christmas season with record inflation. Just to recap, here is a list of items that have gone up during his reign.
What hasn’t increased? The cost to subscribe to The American Spectator! For a limited time, we are offering our popular yearly subscription for only $49.99. Lock in the lowest price of the year by subscribing today