MOGAMBO GURU: "We Shall See Who Laughs Last, My Little Pretties!"

[Tace]

Richard Daughty, the angriest guy in economics -- World News Trust

It was truly cacophonous inside the Mogambo Fortified Bunker Of Pure Fear And Panic (MFBOPFAP), as alarm bells and buzzers and klaxons and horns were all making a hell of a din, adding to the piercing sound of my own screaming. Why? It was last week's $11.5 billion increase in Total Fed Credit by the Federal Reserve.

It was only a couple of months ago that Ben Bernanke, chairman of the Federal Reserve, confided to CNBC’s Maria Bartiromo that, “it’s worrisome that people would look at me as dovish and not necessarily an aggressive inflation-fighter.” Hahaha! Now we know why people look at him as dovish on inflation! $11.5 billion of brand-new credit in one week! Pure, excessive monetary inflation, which always precedes, and causes, price inflation!

And the unholy Fed is absolutely going bananas with accommodating the repo market. There were $24 billion in repos just last Thursday alone! And, for good measure, the Fed printed up another $5.3 billion in actual cash last week, enough for every man, woman and child in America to get $18 in cash.

And why are they doing this? Jim Willie CB of GoldenJackass.com explains, "The US Fed must get with the program and realize that they cannot fight inflation when that precisely is their reason for being. My disrespectful title for the U.S. Fed Chairman is the Secretary of Inflation. Cutting off price inflation is tantamount to cutting off the foundation legs of the U.S. Economy, namely the housing sector on the tangible side and the stock market on the financial side. Constant, even accelerating, credit supply is essential in order to maintain flat growth within the U.S. Economy."

I fall to my knees, and in my finest cinematic moment, dramatically raise one arm heavenward, and cry out with a voice dripping with anguish and outrage, saying, "This is the depths to which the Federal Reserve has sunk!"

more

http://worldnewstrust.org/modules/AMS/article.php?storyid=3888

[Demeter]

1. I Wish Mogambu Would Discuss Kenny Boy, His Life, Times, Death

It would be interesting.