Bush confident Fed can tackle inflation

[sabra]

http://news.yahoo.com/s/afp/20051014/bs_afp/useconomypriceswhouse_051014154117

Bush confident Fed can tackle inflation 1 hour, 12 minutes ago

WASHINGTON (AFP) - US President George W. Bush trusts the US Federal Reserve to handle any inflation worries, after US consumer inflation rose in September at their fastest clip in 25 years.

"The president has confidence in the Federal Reserve when it comes to monetary policy and their ability to address any inflation concerns," White House spokesman Scott McClellan told reporters.

US consumer inflation surged at the fastest pace in more than 25 years in September, rising a steeper-than-expected 1.2 percent, the Labor Department said Friday.

[Demobrat]

1. In other words

"Don't bother me with that shit. I'm hungover."

[Theres-a]

3. Or

He has finally gone off the "Deep End"!

[Montauk6]

2. Wait! (hee hee hee)

You mean BUSH is trusting GOVERNMENT to deal with ECONOMIC ISSUES???

:popcorn: :rofl: :rofl: :rofl:

And here I thought Irony died with the Zima Guy! HAH!!!

[Nickster]

4. "Doin'a heckuva job Greenie!"

[Ksec]

5. and we all know how good his word is...

[montanacowboy]

6. Yep - his Saudi friends jack up the price of oil

which leads to huge inflationary leaps - so then his friends at the Fed raise interest rates to supposedly qwell inflation..

what a frickin racket -

they cause the inflation and then reap the rewards doublefold

higher oil prices and the banks and credit card companies reap higher interest rates and it goes on and on and on

that Bastard at the Fed has raised interest rates 11 times and you ain't seen nuthin yet!

people with adjustable mtgs will be losing their homes as they try to pay for $5 gal gas

[opihimoimoi]

8. Bad Bush bad Bush...whatcha gonna do whatcha gonnna do?

This Don Knots of a Prez Is Lost and without a moral compass....

[SledDriver]

7. DUers confident Bush can tackle a bottle of Jim Beam n/t

[sofa king]

9. The President is most confident when the fix is in.

I hate trying to keep tabs on these jerks, because it's always about money. But one thing I recently learned about was the Exchange Stabilization Fund.

According to some, the Bush Administration has been using the ESF and other shadowy Treasury Department arms to "fake out" Wall Street and the world by making it appear that the USA is more solvent and robust than it actually is.

Hence, one might speculate, our "jobless recovery."

Somehow, I just know that Paul Wolfowitz has a role in all this. Just a hunch.

[sendero]

10. When you have inflation..

.... in a low-growth economy, you have a problem. Ask Jimmy Carter.

Greenspan is between a rock and a hard place, there is no easy monetary-policy fix to the jam we are in.

[jwirr]

20. Anyone who runs a home and has overextended their debt

knows that there comes a time when there is no easy way out. I would guess that bushie has gotten the country into this kind of shit-hole. No wonder greenman is going to retire.

[dapper]

11. not only am I tired of this, I'm feeling Bushed

my school/property tax went up like $1000 this year. $8,900! My electric co is adding a fuel surcharge! Oil is up! Gas is up.

IMPEACH BUSH ALREADY!

[MichiganVote]

17. Welcome Dapper and er...join the club

[Digit]

12. Fuzzy math, fuzzy statistics

They will find a way to manipulate the numbers so inflation virtually disappears.
The only problem is the rest of us live in reality.

[seasat]

13. Heck, we need some inflation.

Wage inflation would save the middle class. Median real income is actually declining. That means that our incomes are not keeping up with inflation. This means that the record debt that consumers are accumulating can only weigh more on the economy. Look at these debt ratios (LINK). We are at levels higher than in the early 80's. People have transfered some of their debt to their mortgages but that means we can expect the record number of foreclosures to greatly increase as people's incomes fail to keep up with the rising interest rates.

Years ago, I used to think that maybe Greenspan was some sort of Guru. Now I realize that he is just another corporate whore in the whole corrupt Shrub Inc organization. He knows that if we have wage inflation, it'll hurt the large corps and benifit consumers. Shrub Inc and the Fed are doing everything they can to save the corporations at our expense.

[Village Idiot]

14. How strange...

"Bush confident Fed can tackle inflation 1 hour, 12 minutes ago."

What the heck does THIS mean? Is he NO LONGER sure?

[sabra]

15. LOL

not sure if there's sarcasm there, if not, it's how long ago Yahoo posted the report...

[BikeWriter]

16. "We will hold the course. The work is hard."

[are_we_united_yet]

18. Well that settles it.

Inflation will be out of control

[VegasWolf]

19. Bush confident that roses will be thrown at the feet of the invasion

army. nt

[Barkley]

21. Bush is blaming higher (gasoline) prices on the Fed

And in truth the Fed is in control of monetary policy and price stability.

The inflation in the late 1970s cannot be blamed on Carter any more than current inflation can be blamed on Bush.

However, Carter's policies could have made the situation worse had he ran huge deficits.

Carter did make long-term proposals that aimed at ending our vulnerability to oil ... Reagan and subsequent president undid much of this work.

Bush on the other hand is running huge deficits and is likely to exacerbate the problem of higher prices. Moreover, he has not long-term policies for dealing with our dependency/ vulnerability on (mid-east0 oil other than occupying Iraq.

[twaddler01]

22. is it me,

or is the President always confident BUT always wrong? :crazy:

[twaddler01]

23. i'm sorry

I gave W too much credit to call him a "President".