Facts on the Fed

Discussion in 'Economy' started by Truthmatters, Sep 18, 2011.

  1. Truthmatters
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    http://www.nytimes.com/2011/09/18/sunday-review/the-facts-on-the-fed.html?_r=1&partner=rss&emc=rss



    This chart ranks the six Fed chairmen of the past 60 years on the two issues in its dual mandate: inflation and unemployment. Under Mr. Bernanke, inflation has been lower than under any other Fed chairman in the past 40 years — and lower than in the five years before he took over. Unemployment has been well above average and has risen sharply.

    The candidates would say that Mr. Bernanke’s actions have set the stage for future inflation. Maybe so. But there is a long way to go before he sets any records.
     
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    “I’d be looking for someone new,” said Mitt Romney, the former governor of Massachusetts.

    “I would not be reappointing Ben Bernanke,” Representative Michele Bachmann of Minnesota said.

    “I am not a fan of the current chairman,” added Gov. Rick Perry of Texas, who had even harsher words on the campaign trail.

    Just as striking as the intra-party criticism, though, was the content of that criticism. Mr. Perry and Mr. Romney accused Mr. Bernanke of devaluing the dollar through inflation. Newt Gingrich, former House speaker, called Mr. Bernanke “the most inflationary” chairman ever.
     
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    Why is the whole republican feild lying about this?
     
  4. Avorysuds
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    Avorysuds Gold Member

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    Thank you Ron Paul for pointing the out dangers of the FED years in advance and than you Obama for re-appointing an absolute failure back into power so he can print Trillions for you.
     
  5. Truthmatters
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    Why are they lying?
     
  6. Avorysuds
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    Avorysuds Gold Member

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    Because Mitt, Rick and Michele equal the "whole republican feild." No no, thank you for lying about that TM.
     
  7. boedicca
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    The current official measure of inflation understates it due to the methodology.

    Using the old methodology (abandoned at the end of the Jimmy Carter era), inflation is now over 10%

    The CPI chart on the home page reflects our estimate of inflation for today as if it were calculated the same way it was in 1990. The CPI on the Alternate Data Series tab here reflects the CPI as if it were calculated using the methodologies in place in 1980. In general terms, methodological shifts in government reporting have depressed reported inflation, moving the concept of the CPI away from being a measure of the cost of living needed to maintain a constant standard of living.

    Alternate Inflation Charts


    Essentially, what the Government now does is to say that if meat becomes very expensive, people can substitute tofu for protein, so that isn't really inflation.
     
    Last edited: Sep 18, 2011
  8. Truthmatters
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    You forgot Newt
     
  9. Avorysuds
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    You left out Newt/Cain/Paul/Asstourum/Huntsman
     
  10. syrenn
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