New BLS Hits

Filed in commodities, Debt, earnings, euro, inflation, lead, New Gold, Spot Gold, ubs by on May 10, 2010 0 Comments

Some of those on Social Security may have been pleased by government analysis and forecasts which the Feds said indicate that there is no inflation, at least until the Feds concluded that primarily senior citizens didn’t “need” a raise in the Cost of Living Allowance this year. (Not being all-wise, like our overseers, I have no idea whether anyone considered if those who receive SS for odd reasons that do not include having paid into the system for many years “need” a raise or not. I also doubt that government employees didn’t get theirs.) No inflation now or in sight?! Wahoo, let’s stop living on hamburger chubs and picking over the marked down meat, happy days are here again. As though the official forecast for 2010–as shown by denying a raise in COLA for SS, a very unusual act–weren’t enough, whaddya think, but the Fed’s seers concluded from the data on hand that there isn’t going to be any inflation for the next two years as well! They’re so sure that they have already said “No COLA in 2011 and 2012, either.” Mah goodness, the green shoots are real, peace and stability are here, all hail Obama and Congress for their wisdom and flooding the world with pretty green pieces of paper. Americans will go along with any promise that an Andrew Jackson will buy in 2013 what it buys today. Historically…well, what an Andrew Jackson bought twenty years ago now costs a Bernanke, aka Benjamin Franklin, and my guess is that it will take a Jackson to buy what a fiver will now within three years. If we’re lucky. Now that all of us who haven’t had prefrontal lobotomies have had a good laugh, let’s take a look at what the Bureau of Labor Statistics, abbreviated BLS appropriately, has to say about the merry month of March, 2010. Plug in UE if you see what I see, which is blue, not green. I’ll lead you into it as gently as I can by noting that for fourteen months in a row the number drawing food stamps has increased. This has more significance than just that unemployment is high (which we all knew) and that a benevolent government is buying groceries for very close to forty million “Americans” (39.4 million, to be precise.) I can’t see any difference between Bernanke and Geithner’s counterfeit and food stamps except that…

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New BLS Hits

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