Do Americans realize that the Fed is creating money out of thin air to fund $40 billion dollars A MONTH in mortgage-backed securities purchases? The Fed tells Americans that inflation is under control. Just look at the CPI says the Fed. Nope, wrong gauge. Look instead at the massive bubble in the stock and bond markets, the cratering $, the price of gold, and the strato prices of high-end New York condos! All out of sight. Inflation can take many forms and, with the worst job market in decades, the CPI is sure not the place to look when gauging inflation.
In my nearly five decades advising America’s small-business owners and conservative savers, today’s environment is the worst I have ever seen—by a long measure. The blame belongs squarely on the Marxist-influenced Obama administration and a complicit Fed. America’s bond rating stands poised for another cut. And President Obama wants four more years to continue his failed program of income redistribution and small-business destruction? I just don’t get it.