Monday, December 27, 2010

The Federal Reserve: Whom is it helping?

The Burning Platform is a blog that does its homework. In this essay about our economy, the writer supports his argument with graphs and persuasive data. Here is an example of 2010 price increases we have all had to deal with.
"Only an Ivy League academic could examine the following yearly price data and conclude, as Bernanke has, that inflation is well contained:"

Unleaded gas up 24%
Heating Oil up 28%
Corn up 50%
Wheat up 48%
Coffee up 56%
Sugar up 27%
Soybeans up 30%
Beef up 26%
Pork up 22%
Cotton up 101%
Copper up 33%
Silver up 72%


The blogger's main points are that Federal Reserve policies have hurt senior citizens and squeezed the middle class terribly, while enriching Bernanke's true masters, "the ruling elite who control the wealth in this country

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