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China is Unloading its Treasury Bonds


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I'm sure you remember as I do the screeches of the wingnuts about rampant hyperinflation by mid-2010 because of the stimulus. Uh, still waiting. Bzzzzzzzz, wrong again GOPers.


The reason inflation is not high is back in ~1980 they re-adjusted the way of calculating inflation. Energy and food costs are no longer included. What do you think has been going up the most recently? Food and energy, that's what. I saw an article somewhere (sorry don't have the link) that if the old formula for inflation were put back in service inflation would currently be running about 10%. Ouch.


I do like him. I think he is a bright guy, and actually the right guy for the job right now.


Bernake has lots of credentials for sure, but why would someone of his supposed intelligence take out an adjustable rate mortgage and have it blow up in his face?


Oh the Irony

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