Ben Bernanke: “There is no current inflation.”

In Editorial on May 11, 2011 at 10:16 am

I call “BS”, Benny.

"Look, nothing up my sleeve."

I doubt Ben (“Helicopter”) Bernanke does much grocery shopping and I am also betting he has the same level of every day skills enjoyed by “GW”.  He likely has “people” to handle the mundane chores that take up much of our time.

It gives Bernanke more time to make up stuff.

Yesterday, was “market day” for the Phyne Dyner.  We missed out on going to Farmer’s Market on Saturday because “Jack” had a slow start.

I do not begrudge “Jack” for his slow start…after over thirteen dog-years, he deserves (and gets) all the time he needs to get moving.  There will be more Farmer’s Markets later.

A little over a week ago, Bernanke proclaimed there “is no evidence of inflation”.  A few days later, Iowa regents announced 3-5% increases in university food and housing fees “to offset current inflationary pressure”.

As if raising fees is not inflationary?  That aside, it would be nice if the elites would all get on the same page.

Maybe they need to take a “market day”?  The Phyne Dyner cordially invites Ben (Bernanke) and Terry (Branstad) to go on a marketing adventure with him.  Both men could use a double dose of reality…as well as a high colonic.

Yesterday, I made plans to begin enjoying “summer” food.  I would kick off the season with fire-roasted eggplant and red pepper dip.  For supper, I anticipated a nice, cool pasta salad.  Missing out on Farmer’s Market, I ventured into my local mass food retailer to provision for our feast.

Red peppers were 2/$5 if you do not mind eating pesticides in your salad.  Organic peppers were $3.69…EACH!  Eggplants were $1.99.  I quickly surmised that the resulting pint of dip would cost over $10.

Something to drink?

A few weeks ago, I bought a bottle of tonic water for 50-cents.  With yesterday’s temperature being absolutely delightful in the mid-90s, vodka and tonic would be just the hit.

Tonic water:  3/$2

“No inflation” means yesterdays 50-cent tonic water should be 50-cents today…not 17-cents more.

What about “kielbasa pain”?

Last summer, I was buying beef kielbasa for $2.69/lb.  A few weeks ago, I saw a “special” advertising the sausage for $3.89.  The package had also shrunk to 14-ounces.

“No inflation” would mean my sausage would still be 17-cents/ounce…not 28-cents/ounce.

I doubt Bernanke eats much kielbasa, so I forgive his oversight.  Branstad, rubbing elbows with limousine liberals, probably fills up on $279/plate caviar at Splash and does not have room for sausage.

What do the bus-boys at the local steak house (where one must simply be seen) think when they cart off 16-ounces of a $99 “Carnivore” (24-ounce) steak platter to the rubbish because the well-heeled diner thought it would be a “hoot” to order the massive plate of meat…but did not want to appear so gauche as to pack it home in one of those aluminum-foil swans “to give to the dogs”.

Last year, gasoline was $2.89/gallon.  This year?  Gas is $3.89.  See, no inflation.

Wages remain flat.

Workers cannot vote themselves pay raises.

Branstad wants to cut commercial property taxes by up to 40% to “stimulate growth”…you know “trickle down”.

Problem is, it does not “trickle down”.

An acquaintance was grousing the other day about “not having a raise in nearly ten years” despite having more job responsibility.  His employer is a devout Republican who enjoys regular overseas trips and domestic outings, but tells his workers that there “is simply no money for raises right now”.

Bernankes and Branstads simply have no concept of price.

They do not see the bags of Hy Vee’s Grimway carrots that need only be peeled to make “matchsticks”.  Remember when a store-bought carrot was darned-near the size of a zucchini?  The biggest one in the bag I purchased yesterday was smaller in diameter than my thumb.

Bernanke, Branstad, Obama, Grassley, Harkin, et al keep hoping that the news “shows” will keep the serfs occupied chanting “USA” on cue, so not to notice the politicians vigorously applying grease to the rails on which the American handbasket sails into Hades.  They simply shout, “Lookee here!”, and the lemmings focus on the next distraction.

I have a dire prediction, and I pray that I am wrong.

At some point the distractions and “big lie” is not going to hold the serf’s attention forever.  There will be a rush on lumber when the serfs finally catch on and start looking up plans for guillotines on the Web.

Back to the Future

In 1789, the French stopped looking for cake to eat and started “devaluing” their monarchy.  Marie Antoinette would tell today’s plutocrats “Let them eat cake” is much less snarky from the bottom of a wicker head-basket.

Every election cycle (in Iowa that is 24/365), the ruling elite tells the serfs what they want to hear.  Then, in a matter of months, the successful professional politician of the day begins handing out lucre to his/her corporate handlers.

The cycle repeats, but it cannot be perpetual.  Even the gentlest dog will bite if you keep poking him with a pointy stick.

Americans are typically gentle dogs and are slow to collectively anger.  There is anger out there.  The plutocrats of both major parties have been carefully scripting that anger against people wearing dirty nightshirts in distant lands…and against fellow Americans.

On cue, young (clueless) Americans took to the streets to chant “USA” when Osama Bin Laden was killed.  The “most evil man” had been dispatched and we finally had “justice” for the economic damage he did to America on 9/11.

No word is forthcoming on the “justice” coming for Wall Street bankers who spent TARP funds on CEO bonuses, FannieMae and FreddieMac who turned home ownership into nightmares, or oil company executives who schemed to build profits by 25-50% on gasoline that costs 25-50% more that it did a year ago.

I wonder, will SEAL Team Six make house calls on those parties?

If Ben Bernanke’s assertion there is “no inflation” was the only big lie, he might just pull it off.

The problem is, there are a lot of big lies being told by a lot of big liars.

Just like $3.69 red peppers, we are not going to keep buying them forever.

Thanks for reading.


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