The Old Monster is Back

Tuesday, August 05, 2008 | 05:00 PM

Since the Fed is now worried about Inflation -- behind the curve as usual -- I pulled this comic from Germany, circa early 2008:


Tuesday, August 05, 2008 | 05:00 PM | Permalink | Comments (33) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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If they were actually worried about inflation, and not blowing hot air -- they would have raised rates from these historically low levels. Clearly, the Fed is much more worried about deflation as it precipitates bank failures.

The Fed's statement today is really good old-fashioned C.Y.A. They know their low rates aren't good for inflation -- but at least they can say they were "worried about inflation" when fingers start getting pointed.

Posted by: Popo | Aug 5, 2008 5:13:42 PM

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