paracielo

that is, he pumped up the money supply at every hint of constriction in the economy.
As a result, you see now the results: spiking gold and foreign currency prices, spiking inflation in all things commodity related, including food and fuel. Spiked and crashed tech stock prices in 1999 and 2000, then spiked and crashing home prices and a borrowing binge by consumers all owe their source to Greenie.
The new Fed is doing the same thing, and they are causing hyperinflation in the U.S. currency. The dollar will go to 60 cents to the Euro short term, and all U.S. citizens will be poorer. Increased exports because of the weaker dollar are not that big, and only benefit the top management at the big corporations.
We are getter poorer, people, and it will take many years to turn it around.
You can thank W. for piling on and accelerating the mess with his little Iraq adventure plus the Bernanke appointment.
We need Paul Volcker back at the Fed, and he is now an Obama endorser. Volcker killed the last inflation blast of the seventies, and thankfully he is still alive and bright.

int19

Really? AFAIK, its an accepted fact that American wealth has increased in concentration, particularly in the last century:

https://www.google.com/search?hl=en&q...+united+states

There's lots of good books on the subject citing different reasons for this, a favorite of mine is Wealth and Democracy by Kevin J Phillips.

gwd

INT19 and wahoonc, you guys are in different time spans. 100 years ago was
1908.

This discussion of the growing inequality covers the last 30 years or so.

https://www.frbsf.org/publications/ec...006-33-34.html

wahoonc

100 years ago the rich were rich and the poor were poor. In a large part that is what contributed to the Great Depression of 1929. The greatest increase in middle class occurred after WW2 up until about 10 years (plus or minus) ago when it started to shift back again. I don't recall the numbers of the top of my head, but IIRC the "tipping point" is when a certain minority percentage of the population controls the majority of the wealth. We are very close to that point already if we haven't already surpassed it.

Aaron

dwainedibbly

The one thing that any motorist can do to cut back on fuel consumption is simple: slow down. I don't see many people driving the speed limit. Everyone is still at least 5mph (and usually 10) over. Apparently the current prices aren't enough to affect consumption by much.

All opposed to high gas prices, raise your right foot.

crtreedude 

In the early days of the Republic, unless you were a land owner, you couldn't vote if I remember correctly.

wahoonc

Now that is ancient history (by US standards)

Aaron