Would Be Funny

[Kathianne]

Sadly to say it is not:

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[NightTrain]

Sadly to say it is not:

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Listening to the munchkin say "when the shit hit the fan" cracked me up and I damn near sprayed coffee on my laptop.

[Kathianne]

Well like 2008 in the fall, seems all we can do is bite our nails and worry. The writing is on the wall:

http://www.cnbc.com/id/40135092


Secret Walmart Survey Shows Inflation Already Here
Published: Thursday, 11 Nov 2010 | 2:59 PM ET

By: John Melloy
Executive Producer, Fast Money

Beyond the money

There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.

A new pricing survey of products sold at the world’s largest retailer [WMT 54.13 -0.21 (-0.39%) ] showed a 0.6 percent price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to four percent higher a year from now, double the Fed’s mandate.

The “inaugural price survey shows a small, but meaningful increase on an 86-item grocery basket,” said Patrick McKeever, MKM Partners analyst, in a note. Most of the items McKeever chose to track were every day items like food and detergent and made by national brands.

On November 3, the Fed announced its much-anticipated purchase of $600 billion in Treasury securities. An effort to keep market rates low since the central bank’s benchmark rate is already at zero. The Federal Open Market Committee’s statement said, “Currently, the unemployment rate is elevated, and measures of underlying inflation are somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate.”

But since that statement, interest rates have actually gone up, backfiring on a Fed chief who wants his quantitative easing to spark inflation of 2 percent annually. A moderate amount of inflation would be considered good for the economy. The problem is that inflation is already running well above a healthy level, investors said, Bernanke is just not looking in the right place, like a Walmart.

“I suspect that when the Chairman thinks about reflation he has a difficult time seeing any other asset besides real estate,” said Jim Iuorio of TJM Institutional Services. “Somehow the Fed thinks that if its not ‘wage driven’ inflation that it is somehow unimportant. It’s not unimportant to people who see everything they own (homes) going down in value and everything they need (food and energy) going up in price.”

...

The video was funnier, but the messages are the same. :(

[Pagan]

http://www.youtube.com/watch?v=PTUY16CkS-k

[chloe]

Sadly to say it is not:

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funny and yet not funny