printPutin protests the funny-money plague the US has unleashed on the world: “Unites States act as if they were ‘hooligans’ because they ‘flood’ the entire world with dollars, Russian prime minister, Vladimir Putin, declared, attacking the liquidity QE2 program launched by the Federal Reserve using fresh printed money.”
They start the money printing presses and throw dollars throughout the world in order to solve their immediate responsibilities. They say monopolies are bad but only if they are foreign – their monopolies are perfect. So they use their monopoly to print money until the whole world is flooded” Putin explained.
Too true and not so funny.
He and I are on the same page.
Putin’s right of course. The excess dollars are mostly leaving the U.S. for better returns from non-U.S. markets. This, in turn, creates lots of inflation in the rest of the world, making things even worse in the rest of the world.
Actually, this socialist funny money is creating plenty of inflation here too. The loaf of cheap store-brand white bread that I buy each week had gone from 99cents to $1.119 over the past couple of months; two weeks ago it disappeared altogether, and now the cheapest bread I can find is $2.50. I’m seeing this all over, + shrinking sizes with constant price. Nonetheless, according to the Potomac Ponzi crowd, theres “no inflation”.
Why does the Fed always talk as if printing more dollars has no adverse affect on poorer nations? Certainly economists are not so silly.
Isn’t it amazing that Vladimir Putin is more prescient than 534 congresspersons (pc) and senators? He is more prescient than Ben Bernanke and Timothy Geithner. I am simply amazed.
How ironic that a Russian Prime Minister gets to lecture the United States on fiscal policy AND be right.
It’s not the first time.
He fired a warning at us back in ’09 at the World Economic Summit.
http://www.americanthinker.com/blog/2009/02/putin_warns_us_to_eschew_socia.html
It’s a sad thing but as I was telling a friend the other day. I find myself putting more stock in the things the Russians are saying these days than the US goverment.
Take for example some Russian positions on peak oil, climate change and now economics.
What a bizarre world we live in.