This may be the start of something bigger. Just last week we posted Fed President Kashkari’s Pep Talk to small community banks. Wow have things changed in just one week…
Things couldn’t be better in our blissful economic utopia. I mean, for crying out loud, look at the stock market! It goes UP every day!! Things must be better than they’ve ever been.
The reason why the rich and get richer and everyone else is stuck in neutral and getting squeezed more every day is Fed policy.
Since direct debt monetization began five years ago, the “stock market” has soared and nearly tripled. IF you had wealth and were able to participate, you’re pretty happy and you can at least still afford to drive and eat. IF, on the other hand, you’re just a regular guy or gal with a spouse and a family, struggling to make ends meet, here’s what you’ve had to endure, instead:
In the wake of the European melt-down in progress thanks to the botched Russian bank heist in Cyprus, the Fed will likely not to be able to afford the luxury of spewing any more MOPE propaganda about QE Fexit in today’s FOMC release (almost an afterthought with the events of the week thus far), but as is tradition here at SD, ahead of Bernanke’s public appearance-
PUNT THE BERNANK!
The Propagandist in Chief (aka Federal Reserve Chairman Ben Bernanke) is scheduled to give a lecture at the University of Michigan’s Gerald School of Public Policy at 4pm EST today on current economic issues and the recovery.
Have your buy orders ready, and prepare to Stack the Smack if the cartel MO of raiding the metals on Bernanke speeches/ FOMC releases continues.
Watch The Bernank’s speech live below at 4pm EST