Businesses shouldn't worry about inflation: Obama

Who the hell is he kidding? Why should ANYONE running a business take business advice from someone who has never earned a private-sector produced dime in his life? He has NO experience running anything that has to with laws of economics and operating a private for-profit enterprise. Obama has been a taxpayer leach his whole life. I wouldn't put Obama in charge of running street hot dog stand for me.

Same goes for Geithner, who made similar remarks today. Here's the LINK

9 comments:

AnonymousThursday, 24 February, 2011
Obama's and Geithner's remarks bring back memories such as:

"The U.S. has a strong dollar policy,"
"Fannie and Freddie are sound,"
"There are no liquidity problems with the banks,"
"The subprime problem is contained,"
"If we enact this stimulus plan, unemployment will stay below 8%,"
"We will make money on the Iraq war,"

I could go on and on....

If history can be used as a guide, then it is time to prepare for massive inflation and oil shortages.
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AnonymousThursday, 24 February, 2011
As Webster Tarpley avers “Obama has climbed out of a veritable sewer of corruption, crime, graft, bribery, kickbacks and rake offs to assume his current role as seraphic advocate of good government and public probity. Obama may not be the most corrupt individual to approach the presidency, but he is in all probability the person in whom the reality of corruption and a hypocritical pretense of clean government are most at variance.” What else can you expect from a professional liar who is merely a mouthpiece for his handlers?
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Dave in DenverThursday, 24 February, 2011
Sure makes the release of "Atlas Shrugged" timely, huh?
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PurewaterThursday, 24 February, 2011
Hey, good news, we found the one person in the world who believes the CPI statistics.
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Dave in DenverThursday, 24 February, 2011
ROFLMAO Purwater! That was funny
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EconomicDisconnectThursday, 24 February, 2011
Nice Purewater! Obama should have added:
"Business shouldn't worry about inflation because in the long run we are all dead". There fixed it for him.
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BillThursday, 24 February, 2011
So glad you touched on this Dave. Folks the warning signs are there.

Prepare.

Bill
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KateGladstoneFriday, 25 February, 2011
I wonder what would happen if people started putting onto their lawns/in their windows/etc. home-made signs consisting of the letters "IM" and a drawing of a peach?
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AnonymousWednesday, 26 October, 2011
HE HAS NOW TOPPED THAT ONE -

One of the President Obama's first promises after becoming President of the United States was a commitment to usher in a new era of unprecedented government transparency . Instead the Obama administration has exhibited what may be an unprecedented obsession with government secrecy including blocking numerous law suits by invoking the doctrine of "State Secrets." The administration has even come up with an interpretation of the Patriot Act which many in Congress who have seen it claim is overly broad and bestows more power on the Executive Branch than was intended by Congress when they passed it. _ _Unfortunately those in Congress who have seen this document are not permitted to divulge its content, and we, the public, cannot see it because the administration has chosen to classify it as a "State Secret." In other words, you might be doing something that the Obama Administration believes violates the Patriot Act, but you won't know it until they indict you for breaking a law you did not know existed (I might be breaking it just by penning and publishing this article). _ _http://www.opednews.com/articles/Transparency-In-Government-by-Jerry-Policoff-111025-906.html_
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.