While a number of major countries are battling inflation and are alarmed by food and fuel price inflation, Bernanke is battling low inflation, or imaginary deflation, and is determined to inject US $600 billion to prevent low inflation and achieve higher inflation, as per the Fed's mandate to achieve full-employment. Bernanke's theory could imply that 10% inflation per year is better than 3%, 50% is better than 10%, and 100% is better than 50%....
Um.
I color writing purple when, even if it's "journalism", it tends this starkly toward ravishingly purple prose. Yeesh. Don't even get me started with EXCLAMATION POINTS in "journalism"! Good lord.
And it might just be a shame, too - because, stripped down to its dumbest essence, the point about inflation isn't bad in itself. But the hysterical hyperbole and outrageous misinformation (yeah: The Fed doesn't print the money, actually - gah) make this one a frustrating miss.
No comments:
Post a Comment