Recovery Summer!

Er, well eventually.

We hope

The US Federal Reserve will slash its growth forecasts and predict higher unemployment when it releases updated economic projections this week.

The Fed will release the latest forecasts made by members of its rate-setting open market committee on Tuesday, alongside the minutes of their November meeting, giving a complete picture of why they launched a new $600bn round of asset purchases.

Yes, by golly, all these Supery Genius moves they’ve done so far have made such a world of improvement, haven’t they? So clearly they need to embiggen them, right?

I mean, I certainly am glad to hear that there’s no silly talk that perhaps you guys are…wrong?

I do wonder sometimes what sort of La-La Land these people inhabit

The committee will also issue 2013 forecasts for the first time and officials who supported further asset purchases are likely to predict that core inflation will stay below the Fed’s 2 per cent goal for the next three years.

“It is not unreasonable to expect 1 per cent inflation in 2012. Unless the actual conditions turn out to be very different from my forecast, inflation of less than 1.5 per cent in 2013 is a strong possibility,” said Charles Evans, Chicago Fed president, in a speech last month.

I believe the French have a phrase that covers my reaction to this:

“Are you on fucking drugs?”

Commodity food-stuff prices are through the roof, the Fed is printing money and inflating the money supply…but because oil is relatively flat and consumer electronics are flat to cheaper they claim there’s no inflation.

Statistics, damn lies, etc.

4 Responses to “Recovery Summer!

  1. major dad says:

    Hey you Bingster, get back in line or you will be sent back for re-education.

  2. Yojimbo says:

    I think Bingley is too far down the road for that. He reached that fork in the road, and took them.

    What happens if the velocity of money takes a serious jump here?

  3. Dave E. says:

    Those idiots are going to lose control, I can just feel it.

  4. Gunslinger says:

    So, how many trillions of dollars has the lightbringer pissed away with no return whatsoever so far?

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