Get Ready For Jimmy Carter Part 2 - Inflation and Unemployment

"The time was October of 1982, and on October 9th of that year Fed Chairman Volcker finally abandoned the monetarist approach to Fed policy that had proven so disastrous."

"A Carter appointee, Fed Chairman Paul Volcker’s attempts to use interest-rate increases to slay inflation in the late ‘70s were met with a great deal more inflation."

The time is now May of 2009, and Democrats are repeating themselves and history...

“The economy may be at greater risk of inflation than the conventional wisdom indicates,”-
-May 22, 2009 (Bloomberg) -- Federal Reserve Bank President Charles Plosser.

- 5/18/2009 (Brookes News) -
"Never before has the Fed acted so recklessly with the money supply. However, Bernanke knows that this must lead to surging inflation and if not halted, a collapsing dollar and rocketing interest rates."

"It is interesting though that Democrats believe additional regulations, more taxes and greater spending are the solution to every problem — particularly the ones they create."

"Taxes will hit savings and investments and they will strike at productivity. Regulations will greatly restrict energy production and raise prices. This in turn will curb production and raise unemployment and savage industry." - 5/18/09 Obamanomics

Obama's economic policy is a recipe for lower living standards
"America faces two enormous problems: Bernanke and Obama. Bernanke is doing what he can to flood the economy with money. This can only lead to surging inflation, rising interest rates, current account problems and depreciation. Obama's spending, taxing and regulatory policies amount to an assault on capital accumulation. Unless he abandons these destructive policies any inflationary recovery engineered by Bernanke will be short-lived and possibly followed by a distinct fall in living standards".

More...

Why the Fed is frustrated with low price inflation
"The CPI is thwarting the Fed's attempts to bring about a regime of negative interest rates. Nevertheless the Fed's monetary pumping remains massive. The yearly rate of growth of the Fed's balance sheet stood at 139.2 per cent in April versus 122.6 per cent in the month before. The fallacious economics that is driving Fed policy will have dire consequences for the economy."

Obama is taking the US economy down the disastrous UK road
"The British Labour Government has driven the UK to the brink of bankruptcy. Taxes are rising, the public debt will 80 per cent of GDP this year and unemployment is inexorably rising. His solution is to flood the economy with money. What should unnerve Americans is that Obama's economic policies are basically the same: massive spending, massive borrowing and massive monetary expansion."

Carbon capture and burial — a recipe
for economic destruction
"Carbon taxes in any form are weapons of mass economic destruction. If implemented they will devastate living standards by destroying masses of capital. Energy prices will soar, real wages will dive and unemployment will rocket."

For those of you who fail to understand what this means to you personally... imagine for a second that everything you buy, food, beverages, gas, energy, clothing, household goods and supplies... everything, DOUBLES in price but your income stays the same, or worse goes down. Imagine that the money in your wallet or checking account right now suddenly only purchases one-half of what it did yesterday.
Get the idea?

Vote Republican 2010 and turn this boat around before we hit more icebergs.
Vote for "change".